Allen, thank you for your post. I just installed Windows 7 (x64) last week, and was looking for the CM1312 drivers. I tried installing the Vista package, but it wouldn't install, and I didnt want to install it in compatibility mode. So I actually held off installing it alltogether, and was checking HP website daily. I noticed yesterday that they have finally posted Win7 driver, so I installed it last night. 
 
The printer seems to work just fine, but the ToolboxFX isn't installed and not running. Now that I see your post, you're saying I should install Win7 driver in Vista compatibility mode regardless? I will try that right now.
 
P.S. Wait, I just realized that you installed the old 5.0 Vista package in compatibility mode. I think I'm...