Yes. Any of Micro Focus compilers will compile code for Windows 7, either for native win32 (32 or 64 bit code generation). Visual COBOL will compile code to .NET (offering multitargeting against .NET 2, 3, 3.5 or 4). In addition Visual COBOl supports full
Object Orientation, as well as support for Winforms, WPF and Webforms.
In addition, you can now compile Visual COBOL code to run on the Java Virtual Machine). You can get a free trial from here:
http://visualcobol.microfocus.com/