Or is it dependent on my sound card? 
 
Regardless, would VST from here work? If so, how do I allow Cakewalk to play them/install them?
 

Short answer, none.
MC2 is fairly ancient, and predates VST support.
You will need to update to a more current version to use VST's.
If you are on XP, your only option at this time is MC6(standard, non-touch version).
If you are using Vista or newer, your best bet is Sonar X3.
Probably not what you wanted to see, but a lot has happened in the past ten years.