I ran into this error after installing PowerShell Community Extensions on Windows Server 2003 R2 (64-bit):
Cannot load Windows PowerShell snap-in [..] because of the following error:
No Windows PowerShell Snap-ins are available for version 1.
This is one of the lamest error messages in recent history. The solution was found here: http://www.eggheadcafe.com/software/aspnet/30117657/powershell-on-64bit-serv.aspx
.. where I just swapped out the referenced DLL with C:\Program Files (x86)\PowerShell Community Extensions\Pscx.dll and C:\Program Files (x86)\PowerShell Community Extensions\Pscx.Core.dll.
C:\> C:\Windows\Microsoft.NET\Framework64\v2.0.50727\installutil.exe
"C:\Program Files (x86)\PowerShell Community Extensions\Pscx.dll"
In that directory I found the post-install .bat file that attempted to do this. Apparently, it failed.