The application that you are trying to install and use is actually very old. There are no new updates or websites to download it from for testing purposes. I've used Google Search along with other websites and search engines, but I didn't find anything about it. I don't think it will work on Windows 7, but yes, Windows XP might represent a chance where the software can be installed.
To install Windows XP, a virtual machine is needed and to achieve this, simply download and install Virtualbox: https://www.virtualbox.org/wiki/Downloads
Note: You will need an original Windows XP installation disc or ISO.
Alternatively, download other photo editing applications: http://software.informer.com/search/photo+editor