Per discussion here: http://drupal.org/node/1140634

2 critical issues still seem to remain with the available D7 port.

1) Image upload in the attribute page will not display a file or thumbnail when the file is successfully upload in the product node attribute option administration pane.

2) Default settings errors in administration pane for attributes (inline_active and selected_active) Individual preference setting (inline_active and selected_active) in product nodes option pane not working correctly. Setting, saving, and override default errors.