Are you sure that you installed the correct choice of 32 bit or 64 bit driver, based on your version of Windows 7?
Is your Wibu key a Codemeter key, or the original colored plastic Wibukey? If Codemeter, see the Enabler download at the bottom of the page:
http://www.graphisoft.com/support/archicad/downloads/WIBU.html
Is your Win 7 machine an Itanium one? if so, see the note on that same page for the special drivers here:
http://www.wibu.com/en/downloads-user-software.html
HTH,
Karl
One of the forum moderators
AC 28 USA and earlier • macOS Sequoia 15.2, MacBook Pro M2 Max 12CPU/30GPU cores, 32GB