Oh well, perhaps after Win 7 SP1 is released it will hopefully fix it. As File_Girl suggested, it's been well reported Win 7's XP support is lacking.
An alternative of course is in meantime to go back to the other start program, BearStart.

Oh the image you provided showed as BS Test, did you also give the Launcher program Admin privileges (ie: both BS Test & Launcher)? That lack of admin permission might be what's stopping the time reverting. After all, it's the Launcher program that's not fully doing its job as it should be with the date.

I don't suppose you experimented with compatibility options for the Launcher program, 'might' be worth trying but just a last shot option in meantime I guess.
Not sure why it works ok on my Win 7, yes slow to revert the date back but it does work. I presume it's set to 32 bit or 64? Another option perhaps to swap around. In fact perhaps parts running as 32 bit are the issue. Win 7 not handling them properly.