I think so. I have it installed on my Windows 7 64 it system and it loads at least, which lets me look at my old Haggi campaign stuff. Haven't tried to run a turn end though.
I also think a lot of the dlls and so forth are shared with Aurora (VB6), so if you install it somewhere other than Program Files, you should be OK.
The Win7 install topic will likely help with any fixes. I have a feeling I had to find a dll or ocx file to make it work.
Stephen