VT-x hardware acceleration enabled but not operational

[kbull]

I am trying to load a Debian 64bit guest on a Windows 7 Ultimate 32 bit box. I have enabled the virtualization settings in the BIOS, even upgraded to the most recent version of my BIOS. The Intel Processor Identification log is below to show those capabilities are present. When I start the VM I get this error:
<errorMsg>
VT-x/AMD-V hardware acceleration has been enabled, but is not operational. Your 64-bit guest will fail to detect a 64-bit CPU and will not be able to boot.

Please ensure that you have enabled VT-x/AMD-V properly in the BIOS of your host computer.
</errorMsg>

What am I missing?
Thanks.

Virtual Box 4.2.18 r88780 I started off trying the latest version but read a few threads that indicated virtualbox may be the problem so down graded to 4.2.18 to give it a try.
Host: Dell Precision M6400
BIOS: A13 (latest edition)

Intel(R) Processor Identification Utility:
/****************************************************
Version: 4.75.20130916
Time Stamp: 2013/11/27 22:01:30
Operating System: 6.1-7600-Service Pack 1
Number of processors in system: 1
Current processor: #1
Active cores per processor: 2
Disabled cores per processor: 0
Processor Name: Intel(R) Core(TM)2 Duo CPU T9900 @ 3.06GHz
Type: 0
Family: 6
Model: 17
Stepping: A
Revision: A0C
Maximum CPUID Level: D
L1 Instruction Cache: 2 x 32 KB
L1 Data Cache: 2 x 32 KB
L2 Cache: 6 MB
Packaging: µFCPGA/µFCBGA
Enhanced Intel SpeedStep(R) Technology: Yes
MMX(TM): Yes
Intel(R) SSE: Yes
Intel(R) SSE2: Yes
Intel(R) SSE3: Yes
Intel(R) SSE4: Yes
Intel(R) AES-NI: No
Intel(R) AVX: No
Enhanced Halt State: No
Execute Disable Bit: Yes
Intel(R) Hyper-Threading Technology: No
Intel(R) 64 Architecture: Yes
Intel(R) Virtualization Technology: Yes
Intel(R) VT-x with Extended Page Tables: No
Expected Processor Frequency: 3.06 GHz
Reported Processor Frequency: 3.06 GHz
Expected System Bus Frequency: 1066 MHz
Reported System Bus Frequency: 1066 MHz
*************************************************************

[Perryg]

Code: Select all

00:00:13.714640 HWACCM: No VT-x or AMD-V CPU extension found. Reason VERR_VMX_MSR_LOCKED_OR_DISABLED

1) 64-bit guests need hardware-virtualzation enabled in the hosts bios.
2) when creating the 64-bit guest you must select 64-bit.
3) If running Windows as host you must make sure hyper-v or xp mode is not enabled on the host. MS does not play well and want it all.