Your question " Can I access my programs from my primary Local disk ...."
You can acess files on windows 7 partition from Windows 8 with NO problems and Visa versa. If your asking about running programs, NO you can not boot win 8 and run a program installed in win 7. Nor can you simply copy program files from on to the other, for them to run they must be "installed". Only exception are programs that do not require entries in the registry.
Thank you Chief. That makes sense. I guess I need to make the winnows 8 partition bigger to put programs in.