If you only install the 64-bit version of Java, TWS will fail to start displaying the error message "Could not find javaw.exe" . This is due to TWS searching for the 32-bit version of Java
To switch TWS to use the 64-bit version of Java, right click on the shortcut menu, choose properties, and change the Target to
"C:\Program Files\Java\jre7\bin\javaw.exe" -cp jts.jar;hsqldb.jar;jcommon-1.0.12.jar;jfreechart-1.0.9.jar;jhall.jar;other.jar;rss.jar -Dsun.java2d.noddraw=true -Xmx512M -XX:MaxPermSize=128M jclient/LoginFrame C:\Jts
Note: the target address above is based on TWS and Java 64-bit installed in the default locations.
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