I developed the snapin on Win7-64 and have been using it exclusively on that system. Is the the snapin setup script that isn't working or will the system not recognize it? Run "Get-PSSnapin -Registered" and make sure that the iControl snapin is listed. If not, then the installUtil.exe needs to be run on it. There is a setupSnapin.ps1 script included in the distribution that does just that. There's also the script in the iControl wiki. Let me know more details on exactly what's going on and I'll see if I can get you all something to get it going.
You might need to be running powershell as an administrator. The install updates the registry and that might be protected if you aren't an admin. Right click on PowerShell and select "Run as Administrator" and give it a shot. Hoepfully that will fix things.