I have CS4 and Light Room 2
Apparently there is no Camera Raw update for the new Nikon D7000 NEF files for CS4.
I therefore down loaded the Adobe Digital Negative Converter Verson 126.96.36.199 which is compatible with Camera Raw 5.4 or later.
Using that DNC, when I do step 1, "Select the images to convert" I get the message "No items match your search". It apparently is not recongnizing the D7000 NEF files.
Is there another DNC that will open and convert the D7000 NEF files?
I just bought the d7000 yesterday and was experiencing the same issue with cs4. I downloaded the DNG converter from adobe and selected the whole folder where the raw files were located (I was unable to select individual images) and it worked fine. It processed the files one by one with new name (without the $500 CS5 pricetag for now). The DNG files open in bridge and psd. Perhaps try selecting the folder? Good luck.