Não tenho certeza se ele é executado corretamente no Windows 7 ou não, a última versão foi em 2007, instale no modo de compatibilidade para o XP apenas por segurança.
Pode levar algumas experiências:
For those wanting to convert PAL to NTSC, download the program. Rip your movie to the hard drive with DVD decrypter. Then open your newly ripped files with VOB blanker. Under the title set block (center of program window), you'll see your VOB files. The center column says "video format". My example says NTSC 4:3 720x480. If you right click on the VOB's you want to convert, then select "video attributes", you'll see a new window pop up. In this window, you can change the "standard" from PAL to NTSC and vice versa. You can even change the resolution in this window.
Do the above, then select or make a new output folder. Click on "process" at the bottom and let the conversion begin. You can then use DVD shrink or any other compression/burning program of your choice to burn your newly converted NTSC or PAL dvd (whichever you chose to convert to).
Veja o primeiro post de sadsac