I've had no problem to install the newest build 292300 on my Vista Ultimate 64bit - i don't run Vue in administrator mode, but still Vue and all updates are working fine, so it's not a necessity.

The offical, non-beta state version  of Vue Infinite is  version 6.10  build 291050.

Nevertheless, the version 6.50 and all it's build-versions are still in beta, so errors/problems can be part of it. By finding and reporting errors you will help to get this version into a final offical version status in the near future.

One of the problems with the newest beta-update build 292300 on Vista 64bit - with or without the newest Vista SP1 Release Candidate 1 update installed - is a problem with material assignment to any object.
This will be taken care of right now, as it got reported right after the release of build 292300.

To get rid of those problems for now just roll-back to the before beta version build 292230.