Yup, it will work fine.
Make sure you're using Service Pack 5 for CRVS:
http://scn.sap.com/docs/DOC-7824
Look up the error code (Ora 12154) in your Oracle documentation. E.g.; this is an error being thrown by the Oracle Client and the CR engine is simply passing it through untouched.
A quick google search shows lots of info on the error.
Finally, remember that even though you are on a 64 bit OS, you are running VS 2010 which is 32 bit and CR inside VS, which is 32 bit so your Oracle Client must be 32 bit also.
- Ludek
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