I guess I did. Actually, I'm pretty certain I did.
It doesn't install the device.
After digging around a bit in the hardware registers it seems to be a device specific to android phones for development purposes (the so-called ADB driver) and I have left it disabled. BT is still really buggy and quirky, have all but given up on it.
Please check "Program and Features" by clicking on "Uninstall a program" from the Control Panel for "Intel PROSet/Wireless Software for Bluetooth(R) Technology". Click on it to see the version at the bottom of the Window. It should read "Product version: 2.2.x.x".
If you have a older version, please install the latest version from here for your OS (x64) and reboot.
You will see "Bluetooth Peripheral Device" entries in Device Manager if you have any Bluetooth devices paired already, and if any of them have Bluetooth services (usually some custom services) not supported by Intel Bluetooth Stack.
Disclaimer: Not speaking for Intel