Well, there is still hope for getting it to install under 7. You have a couple of options to try. First, you can attempt to run the installer in compatibility mode (note that this is NOT the same as Windows XP Mode. Compatibility Mode and Windows XP Mode are similarly named, but are actually 2 completely different features) Compatibility mode effectively changes the version number that Windows reports to the installer of the application.
It does this because many application installers were written to do a version number check of Windows before running (ironically, because at the time they - the software vendor - didn't want to support older versions of Windows). Those version number checks are still written into application installers, but now, they check for specific version numbers (5.0 - Windows 2000, 5.1 - Windows XP, 6.0 - Windows Vista) and refuse to install when a version number is reported that doesn't match the allowed list. Either that, or they just crash.
Your second option is to set the DEP attribute on the program installer. DEP is a feature that prevents an application or service from executing code from a non-executable memory region. This was done to prevent a class of security vulnerabilities called buffer overflows from occurring.
To set the DEP attribute (to exclude it as a DEP enforced file), go to the Windows Control Panel and open System. Click Advanced System Settings, then click the Settings button under Performance. Select the Data Execution Prevention tab, and click the radio button called "Turn on DEP for all programs and services except those I select:", if it is not already marked. Then click Add, and select the .exe file for the video software's installer.
If the installer still crashes, go back to the software vendor and tell them you want an ETA for a Windows 7 compatible version (disregard the crap they spew about having to install in Safe Mode. That was never going to work). It might help to say (even if you don't mean it) that you will move to a different program if they can't at least give you a timeframe.