Didn't work for me in Windows 8 (with my Windows 7 lookalike skin, start menu etc) but I fixed it easily enough. May need to do the same for genuine W7 installations?.
To unzip the files (run the self-extracting zip file), I had to go to the downloads directory, right click the downloaded file and select "troubleshoot compatibility". Then I was able to select "XP service pack 3" mode and it extracted OK into the C:Program FilesModel Engineers Utilities directory. However, it didn't create a start menu item, so I had to right click the application and create a shortcut (on the desktop in my case). I like to drag icons onto the taskbar at the bottom to keep my desktop clear for other rubbish.
Looks a bit clunky but might have its uses.