1) No.
2) Shouldn't be, from many forum posts I've read, the procedure is to remove it using "add/remove programs" from the control panel. This presupposes that you are using windows, and had IE6 working as part of it before installing IE7.
3) It should be part of the OS (assuming windowsXP), it should just revert when you uninstall 7.
I'd be a little inclined to research the statement that this program doesn't work in IE7, just to be sure it is correct before making the change. Is there a support forum for Cyberlink? You might find there is a straightforward workaround.