No this would not be an issue. I have Win 7-64 bit and have no problems using it to restore to stock.
Here is a package I've put together for a few people. Its very similar to the One Click's but with out all the little checks and prompts that seems to cause issues for some...
[WARN] This package will LOCK your bootloader back up, so if you don't want this option please let me know and I can tell you how to change it or offer you a different script without locking the bootloader. It will restore your device back to Gingerbread v2.3.7[/WARN]
1. Make sure you have drivers installed. I recommended Google and download/install PDAnet for your computer. Allow it to install your drivers (pick Samsung) for your device and if prompted to overwrite existing found Samsung drivers allow it to do so. This will also install PDAnet app on your device. Let it do so. Basically this will create a life line between your computer & device.
2. Download the package below. Extract it to your hard drive on your computer.
3. Boot your device into the bootloader. Powered off, press Power+Volume Up.
4. Connect your device via USB cable to your computer.
5. Look inside that extracted package for "run.bat" file. Click on it and the process of flashing should begin. This will only take a few minutes if all goes well.
6. It will finish and reboot you into Gingerbread v2.3.7 which you can then wait 5,10, 15 minutes or so to receive the OTA update to official Android ICS 4.0.4.
Nexus S 4G GWK74 GB 2.3.7 Factory Images.zip