LabVIEW Runtime Engine 8.6 is strictly 32-bit. On a 64-bit Windows system, it will install and run in the C:\Program Files (x86)\National Instruments\... directory and under the WOW64 subsystem.
How are you installing MAX? When you say you try to launch MAX from the icon and nothing happens, do you mean MAX fails to launch? Labview runtime engine [SOLVED] - Arch Linux Forums labview runtime engine version 8.6
This error usually means a sub-VI, a dynamic link library (DLL), or a hardware driver dependency is missing from the target computer. LabVIEW Runtime Engine 8