The WICED SMART SDK utilizes a 32-bit version of an Eclipse based IDE which requires a 32-bit version of JRE to be installed. If you have the 64-bit JRE installed you will need to install the 32-bit version as well. The JRE is designed to allow both 32 and 64 bit variants to be installed on the same system.
Thanks a lot for quick help. That worked!