PrPro has Batch Capture, but I do not believe that PrE 7 does.
Exactly what are you wishing to accomplish, as there might be another way?
For capture I would like to select all the scenes I want from my raw footage, put in the Time code ins and outs, then press the capture button and walk away while the capture process takes place. Just trying to make my editing life easier ;-)
If PE7 can't do this, is there capture program I could buy, then bring the post captured footage into PE7?
I've not done this (though PrPro has similar from a Capture Log file), but you might want to look into SceneAlyzer Live (SD material), or HDVSplit (HD material), as they might offer similar. In PrPro, it's more of an annotation thing, when one reviews the footage to be Captured, and logging the TimeCode, then doing the Batch Capture.
PS - both SceneAlyzer Live and HSVSplit are often referred to as the Capture Modules, that Adobe should have used in PrPro.