In theory all that really has to happen to get a x64 version is that Badspot compiles the game that way, for most programs it's as easy as just flipping a switch on the compiler. However, TGE was made eons ago in terms of technical innovation; Windows NT was still relatively new at this time. I feel like if there wasn't some weird complication with compiling we would already have a x64 build available.
However compiling in 64-bit really won't make a big difference. Blockland rarely needs more than about a gigabyte of memory and the 'big thing' with 64-bit programs is that it raises the memory limit quite significantly. However, probably one of the bigger bottlenecks for Blockland is the fact that everything except for the physics runs in a single thread. This means that the game can't really take very good advantage of multi-core processors, and having access to more cpu power is something that could hugely benefit servers in some situations.
I meandered a bit there, but in essence I don't think we have a lot to gain from x64, and if it were trivial we would probably already have it.