No, 64-bit Windows 7 is not required. The instructions are for Version 4.01 or later, but I didn't note any changes. I can't boot from a USB stick once it's been created and had to hack the Info.plist file on my MacBook Pro 13" 2010 system to avoid the warning message that a DVD player is required.
Unfortunately, the Boot Camp drivers also fail to download, with an error report stating they weren't available from the update server.