You'll need version 8.0.5 (Actually 8.0.3 or above works with Win7).
http://avid.custkb.com/avid/app/self...p?DocId=393667
You must install PTLE 8.0.x already installed on your system because 8.0.5 is an updater. Make sure you read the 8.0.5 instructions BEFORE you install 8.0.x. If you don't pay attention, and follow the steps exactly, you will run into trouble.
There are special instructions that you MUST follow to get it to work on Win7. Please scroll to the bottom of the page linked above and read the Installation Instructions and Windows 7 Additional Installation Instructions.