I've seen this before, and unfortunately suffered from it. In my case the Windows 7 OS was just hosed, it wasn't soon after this other weird ass stuff started rearing their ugly heads. I had to reinstall.

Now, supposing you have a 32 bit VERSION of the app - not just a 32 bit installer. Then I would try some basic trouble shooting first off.

Try running a CHKDSK on the OS drive. Then temporarily deactivate your antivirus if you have any, and if you DON'T then that may very well be the issue, perhaps you're infected with something. You can try running some malware apps and an AV against it but truth be told if you're infected then it may be cleaner, faster and easier just to do a fresh install of Windows 7.

Try running the install again, then check the Task Manager to see if it's running. If it isn't something is not starting, and it's a hell of a hard thing to diagnose over the internet. I've even see where something will not start by clicking on it but WOULD when using a command prompt and entering it in there using a keyboard.

I wish you well, some of this stuff is damn hard to figure out.