I think it's completely dead. No commit for many years although with win7 64bit it stops working.
If you place your app into program files directory, you won't be able to access your directory for RW operations...
As for win7 64bit Launch4J works fine, if you are having problems I would think this is cause by trying to access 64-bit native librarys from Java such as SWT, while having only 32-bit java installed or vice versa. (If you are having a different problem then please report a bug) As for no RW operations in the program files directory this is a security feature of both Windows Vista and 7, you can read from this directory but you should not be writing here. All user data should be writing to the Appliction data directory.