So in your case I would say the best try would be 1.5*, but I don't think there is any 32 / 64 bit distinction, I think it'll maybe up to the installer, if it's a 32 / 64 bit one, it'll choose the right JVM (nevertheless, I think that bundling the correct JVM will save you from troubleshooting the countless different situations you may encounter, as you can never predict what spooky situation will be on customer's machine).
The list of VMs that this LaunchAnywhere Executable will allow the Java application to be run against. The value for this property can be any space- or comma-delimited combination of the following:
ALL (any VM)
JDK (any Java JDK)
JRE (any Java JRE)
The value of this property will also override the value listed in lax.nl.current.vm if the VM listed in that property is not of a valid type. The order of the valid VM list specifies the precedence in which VMs found on the system should be chosen if a valid VM is not listed in lax.nl.current.vm.
You also may want to check these documebnts:
http://helpnet.flexerasoftware.com/r...n_criteria.htm (this one applies to IA 2009, though)