It (MPE) uses the VB6 runtime files which are supposed to be supported on Win7. There's also an imaging dll he uses. I can only say try it and see. Perhaps someone else could create the MATS for you as well.

I should have mentioned that you will need to 'Disable all material properties' for each material individually and when you enable transparency, you will  also probably want to enable the transparency min/max/falloff in order to be able to set and apply those as needed. If you're making several different MATs, you can reuse the first one and just change the transparency file reference saving under a new name as needed. If you save in P4 mode you get for each material (assuming 100 for max). You can also save in P5 mode and get the shader tree.

        material your_material
                 {

                  tMin 0
                  tMax 1
                  tExpo 0
                  transparencyMap "your_TransMap.jpg"

                                     0 0
                  }

I don't know whether that will work for hat you're wanting or not.

"Democracy is a pathetic belief in the collective wisdom of individual ignorance." - H. L. Mencken