Please See Presentor 7 System requirements : http://www.adobe.com/support/documentation/en/presenter/7/Release_Notes_EN.pdf
For Presentor 8 : http://www.adobe.com/products/presenter/tech-specs.html
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As per the above mentioned tech specs, you do not meet the system requirement for installing Presenter 7 on a Win 7 machine.
But to get clarification from the product experts i will be moving this thread to Presenter Forum.
I used Presenter 7 on Windows 7 without any issue. I'd recomend installing 7.0.7 (can use your serial key from 7.0.0 to 7.0.6).
Instructions if you are upgrading a Creative Suite with Presenter or from 7.06 or older: http://helpx.adobe.com/presenter.html