I only found out when I tried to run it! Powerquest's Partition Magic won't run under Windows ME (that's all versions, even 5.01).
This is a shame , because it's an excellent program that does everything it says on the box! But not on ME! No sign of any patches or updates on the website, or an explanation as to why it won't work. I assume it's to do with the way that ME protects it's sytem files?
Watch http://www.powerquest.com for any more details?

That's odd, although I think PM 5 came out a wee bit before Windows ME. Version 6 of PM is coming out soon (according to a recent press release), and it should handle ME.
I'm surprised though. Can you not even resize ME partitions when running PM5 from a DOS boot disk? Or is it just that it won't install from within Windows?