Of course they do, but that is not the only problem the script has in Vista and Win7. SoundGet does not work on them.http://www.autohotkey.com/docs/commands/SoundGet.htm
So the balloon tip and changing tray icon would not function. At some point I may make a version specifically for Vista and Win7 but it would have to essentially be a completely redesigned program. I think for now I will leave things as they are. Anyone who wants the script to behave differently can modify it themselves, and more power to them.
Here is the newest version:http://www.mediafire.com/download.php?2rri66lrdtlc9otChanges:
Checks whether muted on start.
Can select which sound device to effect.