Trying to install a windows xp program on windows 7 and receiving error 0x80040154 then 0x8007007e

I have a windows xp program that works fine in Windows XP. I am trying to install this program in a Windows 7 (32bit) on Intel (64bit) system. I receive the following error: "Retrieving the COM class factory for component with the CLSID {xxxxxxxx-xxxx-xxxxxxxx-xxxxxxxxxxxx} failed due to the following error: 80040154 at xxxxNamespace.xxxxClass.Connect() I then take the the registry entry for (xxxxx-xx-...} from the Windows XP registry and copy it the Windows 7 registry in the HKEY_Classes_Root/CLSID folder. The error code changes to 8007007e.

I want this program to run without error. Any solution or direction would be much appreciated. I do have the source code to work with.

Note: x's are replacements for true values.