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I tried it with some success.
* It has a .ini file that you need to modify telling it the drive delphi is located.
* The batch file looks at .ini and runs a .reg file giving library locations.
It works well if you use from c:\delphi - do not rename directory or drive
I tried to change it to d:\delphi7personal and could not get it to work.
The great thing is souce code is available at SourceForge.net. It will take your current installation and make it Portable. Discussion is at PortableApps
file is called. registry.REG it has path and licence information.
I suspect you have the 'portable maker'
After you execute the file - you will get portable version of D7 Ent.
Oops, the current release, Exceptional Magic v1.68, provides codes usable merely for D3,D4,D5,D6,D7,D2005,D2006 (and BCB4,BCB5,BCB6). Definitely there is no code within the package for D2007 as you can realize yourself.
Sorry to say that: no code - no patch.