Thanks Jerry- It actually does, technically support it, and does a great job in daylight. I did the beta, and updated the post, but it's still pretty yellow. See the link. Just to make things interesting, the beta plugin causes weirdness with Bridge- lost my RAW rpeviews, and my Smart Collections files flash for a second, then disappear. Woof.
Sorry you are still having problems Ted, but according to the readme file for Adobe Raw 5.5, it does not support the 7D. This support is added with Adobe Raw 5.6.
You should now have the ability to change settings under the camera profile tab of Camera Raw 5.6 and find a preset that is closer to what you perceive as the actual color.
I'm not having the problems in Bridge that you describe with Camera Raw 5.6.
The dpreview.com review of the 7D faults the camera for very few things. The inability to correctly set white balance under artificial light is one. The review recommends a custom white balance or shooting RAW to compensate. With that said, one of the purposes of the RAW converter is to correct these issues.