I do not see anything wrong. I would strongly suggest to install 32bit in VM's athough you have a 64bit processor. I have 2 VM with 32bit distros and run just fine.
You might want to know if PC or Laptop has support for Virtualization in BIOS and enable it if aplicable.. Search in your BIOS for Virtualization.
64bits Host can install 32 and 64 bit guests.
32 bit host can install 32 and 64bit guests (Not recommended due to excess of overhead).
The VM have software and hardware Virtualization. in 32 bit VM guests, softwtare Virtualization takes place, but in 64 bit VM it requires hardware and software Virtualization.
So again, you might want to check you bios for enabling the Virtualization feature.