Regarding your question about the bin vs bin32 directories, is your application built to run as 32 or 64 bit? The bin directory contains the runtime components required for a COBOL application built as a 32 bit executable, whereas the bin64 is for 64 bit.
You can see the additional PATH (and other environment) settings recommended for running COBOL applications by launching one of the provided Visual COBOL Command Prompts. If you go to Start-> Micro Focus COBOL Server->Tools, you'll see shortcuts for Visual COBOL 2012 Command Prompts, both 32 and 64 bit. If you launch these, and then echo %PATH%, you'll see the additional items that are added to the PATH to support running COBOL, based on the your choice of 32 or 64 bit.
