Said honestly, Windows Live Movie Maker Beta, in a word, sucks. It lost so many features compared to the old Windows Movie Maker that it’s just not worth using.
Are you stuck without a free video editor in Windows 7 at this point? No. You can install the old – and far superior – Windows Movie Maker in Windows 7.
All you have to do is download and install it.
What you want is Windows Movie Maker 2.6. You can download this here.
The installation went thru without a hitch and everything worked fine.
Above: Old but still great.
Above: This is what you want to see from Help/About.
Will this software work for Windows Vista?
Yes. It was designed for Vista originally so it will work in both Vista and 7.

We’ve been using Windows Movie Maker on our XP machines to make our real estate virtual tour videos. We now have one new PC with Windows 7 and was delayed in creating new tours until I found out about the version 2.6 download. Thanks!