Cannot open a virtual drive on CDE 1.2.114847.152 & Win 7 64 bit

I have downloaded CDE 1.2.114847.152 from the official site:

Where windows 7 / 64 bit is said to be supported.
At the first sight it is a bit strange that on the downnload page

I do not see windows 7 in the dropdown for “Please select your operating system” but it should be supported according to the first page.

Steps to replicate:

  1. Installed CDE on a fresh new Windows 7 installation and all the updates to date, no utilities to interfere with 2. Go to virtual drives tab 3. Mount 4. Create new virtual drive 5. whatever size 6. Enter pwdm hash algo, etc 7. store location = file drive 8. set location 9. set drive letter an finish 10. format the partition 11. double click to see the partition and get error: “Location is unavailable. K:\ refers to a location that is not available. It could be on a hard drive on thsi computer, or an a network. …”

I think that this issue is making the product unusable in Win 7 as I only performed very basic steps.
Now that most of the new computers are with Win 7 I think that supporting this platform is quite basic for a software that wants to be meaningful in the marketplace.