I am also getting the same error. I can reproduce easily by simply opening up a cmd shell (run as administrator) and typing the command:
regsvr32 "C:\Program Files\Cakewalk\Shared Utilities\NullProxy.dll"
This produces a hard crash of the regsvr32 utility and reproduces the exact same dialog I got during the installation, with identical Problem signature:
Problem Event Name: APPCRASH
Application Name: regsvr32.exe
Application Version: 6.1.7600.16385
Application Timestamp: 4a5bcdd6
Fault Module Name: nvd3d9wrapx.dll
Fault Module Version: 8.17.12.9688
Fault Module Timestamp: 4fc7b111
Exception Code: c0000005
Exception Offset: 000000000000214f
OS Version: 6.1.7601.2.1.0.768.3
Locale ID: 1033
Additional Information 1: 7b1b
Additional Information 2: 7b1b5a43583d18f3bdfe502d1f037971
Additional Information 3: 2673
Additional Information 4: 26735bc0a1facc722564ef02831ca94e
It appears that there is something in the NullProxy.dll that the Windows 7 registry service is puking on.
I also found references in another thread about a possible collision with a Windows Logo Verification program (or something like that). The resolution was to uninstall that application, but I do not have that on my system. My system is completely new, with a fully updated copy of Windows 7.
Any other ideas? I am all ears.