Weird issues with registry permissions

So I am trying to make Steam Portable for my own personal use.
My Launcher.ini specifies RunAsAdmin=try. I have also tried force and compile-force with no success.
The registry key at HKLM\SOFTWARE\WOW6432Node\Valve writes the proper value to launch Steam Portable, however it does not restore the value on exit. The host value is seemingly lost as it does not restore and is not stored at HKCU\Software\PortableApps.com. This causes the host Steam installed to detect a corruption and it will reinstall itself.
Strangely enough though, if I set the HKLM\SOFTWARE\WOW6432Node\Valve key to full access for Users, which is not default, and then run Steam Portable, it writes the key just fine and does not triggered a corrupted and does not attempt to reinstall itself. By default, this key should only have read permissions for Users.
What is really weird is when I set the permission for the HKLM\SOFTWARE\WOW6432Node\Valve key after running Steam Portable, after the value is seemingly lost, the value restores itself to the host value and does not triggered a corrupted and does not attempt to reinstall itself.

Does anyone have any idea what is happening here?