What I get from your message that maybe the program or you are trying to use a VST audio plugin that is not 64 bits. The best way to discover it is to uncheck all the listed VST plugins, restart VMS and try again.
If this is not giving that problem again you can start checking again those plugins one by one untill you find the wrong one. You than have to delete that one from C:\Program Files\VSTPlugins\........