Which version of NI-Motion are you using? As of NI-Motion 6.0, this driver can not coexist with the old valuemotion driver. The board that is showing in your system is a valuemotion board. Try the following steps:
1.-Make sure you have administrator rights in NT.
2.-Remove the NI-Notion Driver from yout system.
3.-Remove the valuemotion driver from your system.
4.-Reboot without any driver installed and open MAX, the Valuemotion board should have disappeared.
5.-Install the NI-Motion driver, you 7342 showul show up fine.
If any of this doesn't work, please export a copy of your registry file and post it here, we will take a look at it and check if something got corrupted.