It's impossible to say if the application works on Windows 7 or not, because the official website doesn't have a download or a troubleshooting documents. Lexicon appears in some PDF files, but there is nowhere specified about the compatibility with Windows 7 or not.
You can get this information from the developers of the application. Use the following URL to contact them: http://www.cooperindustries.com/content/public/en/crouse-hinds/contact-us.html
Additionally, if you already have the software, right click it and go to Properties > Compatibility. From the drop down menu, choose Windows XP Service Pack 2/3 then apply the changes and run the program while you wait for official statement from developers.