Just to make it clear as most posts on this subject seem to have got buried down forum tree and are easily missed.
I have invested a great deal of time trying a variety of options 4.5 and 4.6 and they do not work on windows 7
It is possible to get the sound working (without volume control) but theres now a bug that causes frames to interfere with each other. This sometimes happened with nested frames on 4.5 but it was usually possible (though hardly satisfactory) to work round it. This interfereance is now common and black flashes occur all the time.
It is impossible to produce a game ( for Windows 7) of any quality with the program in it's present state and I suggest that if GM hopes to continue with this program as a commercial venture he devotes some time to fixing it. Otherwise it could be put in the public domain the good people who run the forum might be willing to try and do something