If WinZip 14 is installed to a non-default location, the program won't run.
Install WinZip 14 (8688) on Windows 7 Home Edition 64 bit, and select a non-default install path. I used c:\Program Files\WinZip, rather than the default c:\Program Files (x86)\WinZip.
Installation completes without error, but afterward WinZip fails to run with the error: "Unable to install over the MSI version of the installation Please obtain the MSI version or uninstall WinZip first."
I don't know if the problem is isolated to Windows 7 Home Edition 64-bit or not, but that is my configuration.
Note also despite choosing the alternate path, it apparently installed in x86 folder anyway. Probably the installer didn't uniformly apply the alternate install location, and some registry entries pointed to the wrong place.
Workaround: install WinZip to default path.