There is actually an updated version that's supposed to work with Win7
http://www.microsoft.com/en-us/download/details.aspx?id=38780
Right-clicking the vcdcontrolTool.exe file and choosing Run as administrator eliminates the "Cannot Open SCM: Access is denied" message, but VCdRom.sys is still not visible in %windir%\system32.
Apparently it's just not compatible with x64 versions... even if you run it elevated and try to load the copy of the driver file left in the unzip subdir (which is found with no problem), the message "Driver has been blocked from loading." results. Possibly whatever MVP re/wrote it either forgot about kernel mode code signing or doesn't want to pay the ($400?) annual fee to MS for signing x64 drivers.