The latest version works on 32-bit Windows, but we should not count dead operating systems, and 7 has been dead for a while now... Don't get me wrong, it's my favorite Windows version (except Windows 3.11 for Workgroups, lol), but if I had some Windows 7 machine around that I'd be forced to use, I would switch to Linux.
Now sporting page loading speed improvements, Vivaldi 7.2 also comes with a tweaked address bar, the ability to override keyboard shortcuts and to create events directly from email messages, a new currency widget, workspace access via quick commands, as well as account reordering in Vivaldi Mail.