No, the Olympus DSS Player v6.x.x will not function properly on a PC with Windows 7 installed.  In order to use the Olympus DSS Player software on a PC running Windows 7, you will need to upgrade your software to version 7.4.1 and higher. 
The link below will redirect you to download version 7.4.1
http://www.olympusamerica.com/files/oima_cckb/DSSV7UP3EN.zip

Verification Source: In-house testing