Code Composer IDE - TMS320C3x/C4x and Windows 7 Compatibility

We use Code Composer IDE - TMS320C3x/C4x 4.10.36.  Our company is forcing an update to Windows 7 and I was wondering if anyone has been able to successfully run this on Windows 7.  Note that this is not Code Composer Studio.  According to http://www.ti.com/tool/codecomposer , it is only supported through XP.  When installing, we get the following error:

The version of this file is not compatible with the version of Windows you're running.  Check your computer's system information to see whether you need an x86 (32-bit) or x64 (64-bit) version of the program, and then contact the software publisher.

I believe that Code Composer must be a 16-bit program and that may be the reason it isn't working with Windows 7.  As I understand, Windows 7 does not support 16-bit programs.  We have tried compatibility mode and still receive the same error.

Any help would be greatly appreciated.