I had the same problem with mine and mine is Vista. You can get round it on Windows 7, but I can't remember how of the top of my head as hes an annual client and I haven't done his yet this year. I think you have to go into programmes and set the path to run as XP i think??? I was over a year ago I did it so memory is abit rusty. Or maybe you right click the icon and go into properties?
In particular, Shamus's post (the fourth one), which described how to run it in XP mode.
The problem seems to be that Sage doesn't like the (X86) part of the "Program Files (X86)" path. So a last-ditch option if the compatibility thing doesn't solve it is to uninstall and reinstall Sage, and during installation choose a different path (such as "C:\Program Files" without the X86 part, or give it it's own directly such as "C:\Sage"), then it might well work. Remember to backup your stuff first.