Firstly, calibre hasn't really stopped supporting Windows 7. The issue is that MS are stopping support for Windows 7 and there are some driver issue with the latest version of Qt. Because of this calibre might not work on some Windows 7 installations. There is discussion of this in the calibre forum. You should try calibre 4.2 and see if it works.
As to calibre support for the latest firmware, the rule is as always. Check the thread for the firmware version and see what the support statement is. Or just follow the instructions in the warning message.
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