No. Unfortunately, the product isn't available to be downloaded from the official website because this was discontinued. Also, there is no information about the developer, so it might be out-of-service. If the program is discontinued, the developer will not provide for updates nor support.
Regarding your last question, you might not need to purchase a new version of the product. You can install and use Windows XP Mode. This update will enhance the compatibility of Windows 7 with older programs. If this isn't working, install the program using compatibility features available in Windows 7. To do this, right click on Setup.exe file, go to Properties > Compatibility > Run this program in compatibility with Windows 98 SE.