G'day Keith,
you should be OK. Vista and Win7 are pretty much the same thing - certainly they share the kernel and drivers. The only lookout is that in some cases the installer may look for specific versions of Windoze and not recognise Win7 even though the Vista driver would work properly.

I'm not familiar with the particular product so you may prefer to wait for someone who has specific experience, but if it were mine I'd give it a go.

Alternatively, you could email Cakewalk support and ask them directly.

--=-- My credo: If it's worth doing, it's worth overdoing - just ask my missus, she'll tell ya laugh --=--
You're only paranoid if you're wrong!