I'm not sure what is different between your installation and mine, (I'm also running MAX 3.1.1.3004) but when I check on a machine with NI-DAQ 7.4, when I "right click" in MAX on NI_DAQmx devices it presents me with a menu that has as a selection NIDAQmx simulated device. When I select that it gives me another menu with a tree menu with what appears to be most of the current device types (M series DAQ, E series DAQ, etc.) It sounds like you may not have a complete installation, some how. Was yours "two cd's" worth? One is supposedly the 7.4, the other drivers.
Good Luck,
Putnam Monroe
PutnamCertified LabVIEW Developer
Senior Test Engineer North Shore Technology, Inc.
Currently using LV 2012-LabVIEW 2018, RT8.5
LabVIEW Champion