I have used Elements 7 for a year in my PC with Windows 7. Suddenly Elements will not launch. I have had a chat support with someone from the Adobe support who tells me that I can not use Elements in windows 7. When I asked how could I use it for a year he just hung up on me! What is correct ?? George.
PSE7 is 'unsupported' on Win7. Here is a matrix which summarizes PSE compatability matrix: http://forums.adobe.com/message/4527508#4527508#4527508
As said on this page 'Just because a platform is "unsupported" does not necessarily mean that it will not work. What it does mean is that you operate the application on that platform at your own risk.', at my end PSE7 is working fine on Win7, SP1 (64 bit).
Double click 'PhotoshopElementsOrganizer.exe' (located at: C:\Program Files (x86)\Adobe\Photoshop Elements 7.0), while keeping 'Shift' pressed. After sometime 'Catalog manager' will lauch. Click on 'create' button (to create a new catalog). Let me know if it launches Organizer or not.