Yes it's only real advantage is that you could stick it in POE and use all your cores.

If the data is not random you might find some advantage in removing the bit that is set the most first.

If the input data has some bits set more than 1/63 of the time you can get some advantage. You can see this in that if all of the data had a bit set then this algorithm would remove all the entries from the list on the first pass if it checked that bit first.

But I assume your data is random.