For those of you that cannot wait for a solution from Gurock, here is a solution for getting SmartInspect 3.3.7 to work with Delphi XE7, that worked for me.
Because the instructions include a lot of code listings that are too much to put directly into this forum, I instead link to my blog post about it. This is how to upgrade SI to XE7 http://seanbdurkin.id.au/pascaliburnus2/archives/216