Installed Hyper-V Server 2008 R2 (standalone version) and was trying to figure out how to manage it from another 2008 32-bit server i have.

with quite a few failed attempts, i finally came to this thread technet:

http://social.technet.microsoft.com/Forums/en-US/winserverhyperv/thread/47cc4151-0bc0-4d9e-9fa9-e030abdb59e3/

which clearly says
"Windows Server 2008 Editions without Hyper-V are bereaved of both the Hyper-V role and Hyper-V Manager.You cannot install the Hyper-V Management tools through the Server Manager and you cannot install an update to make the Hyper-V Manager available in a supported manner.
Update 950500 does not add the ability to install the Hyper-V Manager
Update 952627 does not apply to Windows Server 2008
If you want to manage Hyper-V from Windows Server 2008 install Windows Server 2008 with Hyper-V. Alternatively install a Windows Vista SP1 Management Workstation or use Powershell and/or WMI to manage Hyper-V remotely."

sadly, the only option left is to find a Vista machine or another 2008 x64 with Hyper-V!!