Not really any ideas from me, but...

would it be worth trying if "Nova Development Publisher 2.0" would install using Windows 7s Compatibility Mode?

I ask because I notice from that Nova offered updates for Vista compatibility, and in many ways Vista and Win 7 are similar.

I'm assuming you are using XP at the moment.

Another option, if your proposed Windows 7 is the Professional or Ultimate version, (nothing lower will do), Microsoft offers a free download of "XP Mode", as described here;

Note also in that link the offer of "Virtual PC" where you could install your own XP from within Windows 7.

From what you say I wouldn't try any of that with your "ThePrintShop 123", and in any case I am given to understand that printer drivers may be an issue for older printers, and for 'virtual' OSes.

Having said that, I see from that Broderbund have issued a Win 7 compatible version, and I see that at their web site;

I hope that gives you some ideas, but if not, I hope others have better ideas.