Rich, Are you a day late with this post?
My first suggestion is to get a new laptop. You're dating yourself and that machine if it has 1.7.92 (~June 2010) on it. Jeez...
Second, the file association (what happens when you double-click a file with some extension) is handled 100% by the OS, not by the application.
So, somewhere in your settings for Windows 7, you will be able to set the file associations. You should be able to find the listing for *.vsp files and then change the association from the 1.7.92 path and executable to a more current version.
That said, 1.7.92 files have the *.vsp extension -- they should be compatible with v2 files.
Modern versions v3 do not 'open' those files, they only 'import' them. This is important in two ways. First, when the file is 'imported', it might not be 100% perfect. Second, when you save it, it will save as a *.vsp3 file that is not compatible with the old version.
Modern v3 will only 'open' *.vsp3 files -- so you should set up the file association for that file type to your modern OpenVSP executable.
If you _really_ wanted, we could come up with a batch program that ran OpenVSP with a script to import a v2 file -- and this could be set up to double-click on a *.vsp file. However, I promise it isn't worth it. You really just want to import all those old files into the new OpenVSP -- fix whatever problems there are with them, save in the new era and move on with your life*.
Rob
*while moving on, try not to think about how much has changed in your life since 2010, just be happy OpenVSP has gotten so much better.