What were you expecting to happen?
Do you have photoshop 7 or photoshop elements 7?
If you have photoshop 7 from around 2002, then the updater hasn't worked for years.
The only really important update for ps 7 is the 7.0.1 update on the windows side.
Several different updates depending on your macs processor
If your getting repeated messages in ps 7 about checking for updates, you can turn the updater off by going to
Photoshop or Edit>Preferences>Adobe Online and setting Check for Updates to Never.
If your using windows vista or newer you'll have to run ps 7 as an administrator to get the setting to stick.
Right click on the ps 7 shortcut an select Run as Administrator.