Apparently it was gone for good, check this post on the TechNet forum about Internet Explorer: Microsoft Internet Connectivity Evaluation Tool missing. There we find the following answer:
This tool seems to has been removed from this link. As for as I know, Internet Connectivity Evaluation Tool isn't supported on Windows 7. A disclaimer on the tool's home page states it "won't produce accurate results" if run on anything other than Windows XP or Windows Vista PCs. Thank you for your understanding.
Regards,
TechNet Community Support
It is curious that Microsoft didn't update the help topic offering a link to a page that no longer works with Windows 7.