ORACLE_HOME in TOAD 11.5 not present in 11.6

I installed TOAD 11.6 for Oracle. I went to connect to a database, and 11.6 does not find the ORACLE_HOME that 11.5 finds. I have even re-installed the Oracle client software on my laptop. Now it finds one ORACLE_HOME that is not even valid.

What’s missing here?

John