no, it can run both 64 bit and 32 bit applications, that's why you have two program files folders. Program Files (x86) is where your 32 bit applications live while 64 bit ones are in the standard Program Files folder.
Then USB dongle would be the best option it sounds like. But it looks like the lic for 32 and 64 bit are different and will they give you both (if you got the pro version)?