Can't run 32bit program FSHOTSFX on 64bit windows 7

Folks:

I need your help. I own a registered copy of FSHOTSFX program. I have this program runing very well, on 64bit windows xp pro .
But I have been unable to run it , since i migrated to 64bit windows 7 home premium edition. Unfortunately the program manufacturer does not offer support services anymore. The sad thing is that virtually all of my 32bit programs from way back to windows 98 are working well on 64bit windows 7.

Here is the error message i am getting when i open the program:

Code:

 
<< Fshotsfx failed to load properly. check the Fshotsfx.log file in the install directory. If you do not understand the error codes,email the log to 
Fshotsfx will end now..>>
 
then after clicking ok, I get the following message:
 
<< Run-time error '91': object variable or with block variable not set. >>
 
the after clicking ok, the program shuts down.
Thank you for your help.
Frank.
 
Here is the full report from the log file:
 
 
CPU: Intel Pentium
CPC: 2@2099 MHz
LDM: 35%
TRM: -270,155,776 bytes
ARM: -1,708,634,112 bytes
TVM: 2.00GB
AVM: 1.87GB
TPM: 
APM: 
OSP: 
OSV: 6.1
OSB: 7600
OSS: 
LAS: 4105
LAL: 1033
HSV: 1.1.61
CKS: 46F2D13F887D469DB90977A76A331197
02/08/2010 10:14:10 AM - FSHS_DS1:C:\Program Files 
 
(x86)\FSHotSFX\sound\splash.mp3/No Vendor Info 
 
Provided
02/08/2010 10:14:10 AM - FSHS_DS2:MPEG-I Stream 
 
Splitter/No Vendor Info Provided
02/08/2010 10:14:10 AM - FSHS_DS3:MP3 Decoder DMO/No 
 
Vendor Info Provided
02/08/2010 10:14:10 AM - FSHS_DS4:Default 
 
DirectSound Device/No Vendor Info Provided
02/08/2010 10:14:11 AM - FSHS_Primary Sound 
 
Driver,Speakers (Realtek High Definition 
 
Audio)/200000:1/0:0/0
02/08/2010 10:14:11 AM - FSHS_FLT=C:\Users\administrator
 
\Documents\Flight Simulator Files
02/08/2010 10:14:11 AM - FSHS_CFG=C:\Users\administrator
 
\AppData\Roaming\Microsoft\FS9\FS9.cfg
02/08/2010 10:14:11 AM - FSHS_FSPath C:\Program 
 
Files (x86)\Microsoft Games\Flight Simulator 9
02/08/2010 10:14:11 AM - FSHS_Mp3H: **Error:429 
 
ActiveX component can't create object
02/08/2010 10:14:11 AM - FSHS_ObjOk
02/08/2010 10:14:11 AM - FSHS_MainOk
02/08/2010 10:14:12 AM - FSHS_217 **Error:91 Object 
 
variable or With block variable not set
02/08/2010 10:14:12 AM - FSHS_IPCvr_3.98a
02/08/2010 10:14:12 AM - FSHS_IPCty_Type+
02/08/2010 10:14:12 AM - FSHS_IPCra_10
02/08/2010 10:14:12 AM - FSHS_IPCsc_10
02/08/2010 10:14:12 AM - FSHS_InitOk
02/08/2010 10:14:12 AM - FSHS_LdTm
02/08/2010 10:14:14 AM - FSHS_P0 R0 A0
02/08/2010 10:14:14 AM - FSHS_AGA:0/0
02/08/2010 10:14:14 AM - FSHS_ERRPT: 1x429 ActiveX 
 
component can't create object
02/08/2010 10:14:14 AM - FSHS_ERRPT: 1x91 Object 
 
variable or With block variable not set
02/08/2010 10:14:14 AM - FSHS_CPX: 0
02/08/2010 10:14:14 AM - FSHS_1