Here's a way around the problem
When I installed Word Perfect Office 11 on my new Windows 7 system, I found that I could not save Word Perfect documents, but Quatro Pro was OK. Eventually I found "Jim's fix" (changing the compatibility setting) but discovered that with the new setting, Quattro Pro would not open.
My solution was to set up a new user account. Since the compatibility setting is user specific, I now use Quattro Pro as one user with the original setting and Word Perfect as a different user with the changed setting. Not an ideal fix, but it works.