Can you give us any more info to work with? IE7 not responding isn't all that descriptive. Does the program even open? Have you tried opening with No Addons Mode (its in the system tools folder of the start menu), what page are you navigating to for your home page, try setting it to about:blank.
I am having problems with IE7 not responding. I have been having trouble with it today. It drops my emails from my message center on Netzero and now this. I think I will continue to use Firefox until Microsoft fixes their problem IE7. I wrote to Microsoft about my email problems and they said to call them and I assume pay for the call. Is anyone else having these issues? Any help would be appreciated.