There is no version of this application compatible with Windows 7 which means you will have to take advantage of the Compatibility settings or virtualization. Virtualization will enable you to run Windows XP in a Windows 7 environment. It can be done with a dedicated application or using the XP Mode provided by Microsoft.
For XP Mode, access the following link and read all the instructions: http://windows.microsoft.com/en-us/windows7/install-and-use-windows-xp-mode-in-windows-7
For Compatibility, right click the setup package of the application and then choose Properties > Compatibility. Select Windows XP from the list and accept the changes.