So my game kept quitting during a cutscene between two spellcasters because Win 7 x64 has a weird graphical spell glitch. It never caused the game to crash up until this point, but I guess there was just too much lag on the screen to support. I downloaded the microsoft compatability administrator as people suggested to fix the glitch. It seems to have done so while adding mouse lag.

My problem is that I can't access any of my old saves while running as an administrator. I got to a point really far into the game, so I'd rather not backtrack the whole thing. Is there any way to run non-admin saves on an admin version of the game?

You should always be able to get non-admin saves via an admin version as it has access to everything that a person who's not an admin does + more. PS: T saves in the same folder it's installed in, so my first question would be: Did you install it into Program Files?