Problem
I used the sample from the following article to learn the custom PowerShell Snap In
http://msdn.microsoft.com/en-us/magazine/cc163293.aspx
I kept getting issue that the snap in was not registered.
Solution
The reason was I was not using the FrameWork64 directory InstallUtil.exe
C:\Windows\Microsoft.NET\Framework64\v4.0.30319
I found the solution from the following link.