For some reason, anytime I alt-tab out of MM7 for anything (I keep a spreadsheet to track certain things the way I like them), the screen gets all messed up, and I have to F4 twice (to windowed mode & back) for it to resolve again. While it technically runs in a window, the screen is all mess up - funny colors, showing the buttons where they are not because of being crunched to the left within, and outside, the window). The same happens, though, after I alt-tab out & back in.

Also, the game is stuck in compatibility mode for Windows 95 and I cannot change it. I currently have it in reduced color mode (16-bit).

Any ideas how to fix this?

Removed "run in 640x480 screen resolution" and "reduced color mode" and that seems to have taken care of most of it, so that it is now playable. I'm not sure which did the trick.

All I was able to figure out were those settings under the "Compatibility" tab. Are you running as administrator? I have it set to do that automatically.