ChannelStrip version 2.0.3 f13 is not compatible withPro Tools 7, and users are advised to update to the new version before or at the same time as running the Pro Tools 7 update to avoid any interruption in the operationof ChannelStrip. The 2.1 f02 update is compatible with previous versions of Pro Tools (6.x), and can be safely installed by any OS X based customer.
(Jim Evans)