Two issues. (1) Does Jet Audio have a Win 7 compatible version? Some of the audio functions are handled differently in Vista and Win 7 from XP. (2) I see you do not have the System Mixer, this could be the problem.
You failed to fill out the System Specs so we can comment directly on what sound you have. But, look for a new/updated sound driver
as that MAY give you the System Mixer capability (what SoundBlaster calls "what you hear").