No, the application doesn't work on Windows Server 2012 or Windows 7 Pro. You will need to install another application compatible with any of the mentioned operating systems. Locked! is running only on Windows 95, 98, Me, 2000, XP, and Vista. There is an application called WinLockPro that can help you lock the desktop of any of the computers.
You can't transfer the software to Windows 7 because it will not work.