You still can use ML for doing other things with the 7D, including HRD, photo stacking, and several other features. If you take macro shots, the photo-stacking feature is amazing, and so the way it renders HDR photos in camera.
I would like to install it on my 5D II using a Mac, but I haven't had the guts to do it because according to the installation instructions I have seen, one is supposed to drag all the ML files to the SD card. The problem is that once ML has unzipped, it shows folders with data files inside these folders, not just a list of files. I have no idea if I could just drag the main ML folder to the card.