Java 7 is a Java runtime, though some have found the REW windows installer still insists on trying to download Java. Easiest is to just try it, if the installer will not run then the zipped jar file version of REW can be used instead.
Can you attach a screen shot of the message?I installed the latest Java RunTime and attempted to install REW without success. I'm still getting the error message that says I need to be able to create a new Java VM. I'm running Windows 8. Any obvious reason why this might be happening?