Can I launch the Deluxe version of CyberLink PowerDirector 7.0 for advanced editing, instead of the automatically launching CyberLink PowerDirector 6.5 Express?

No. The "Advanced Editing" feature of CyberLink PowerProducer 5 only works with PowerDirector 6.x versions. However, if CyberLink PowerDirector 6.0 Deluxe is installed on the same computer as CyberLink PowerDirector 6.5 Express, you are prompted to select which version of the program you want to use. For CyberLink PowerDirector 7 users, this dialog does not appear.