From what I'm seeing, the Client Setup program is making a mistake during the installation when it comes to 64-bit computers.  The 64-bit version of Windows actually maintains two sections:  a 64-bit section and a section that maintains compatibility with earlier versions of software.  Here's what is installed on a typical 64-bit computer:

C:\Program Files\

C:\Program Files (x86)\Pervasive\bin\clientlm.dll (for example)

Note that none of the DLLs or software made it into the 64-bit compatible area.  You'd think that this wouldn't be a problem.  Unfortunately then if the ODBC driver kicks in behind the scenes it will either do so in the 64-bit mode or the 32-bit.  If you fire up the ODBC Connection Manager from either location (32-bit or 64-bit) you can see that the Pervasive driver isn't available most of the time.

1) C:\WINDOWS\SYSTEM32\odbcad32.exe (64-bit)

2) C:\WINDOWS\SysWOW64\odbcad32.exe (32-bit)

My guess is that this is the reason why the ODBC Manager (Data Source Manager) gives the following error:  "The program can't start because clientlm.dll is missing from your computer.  Try reinstalling the program to fix this problem."  It's missing because it's only available in the WOW mode (Windows on Windows or also known as 32-bit in this case).

The setup program should install the 64-bit version so that it's available all the time.  In lieu of that then the software itself should be more careful to first query the system to determine if it's 64-bit and then query the 32-bit side of the house to get the drivers going.  It's not just enough to suggest that the software "works on 64-bit computers"; you actually have to make things different for them.

Developers should also take note of this since they try to talk directly to ODBC, create DSNs, etc.