Is Windows Movie Maker 2 part of Windows 7?

No. Unfortunately Windows 7 operating system does not include Windows Movie Maker, Windows Photo Gallery or Windows Mail.

However, Windows 7 users are offered downloads for Windows Live Essentials which includes those programs (Windows Live Mail, Photo Gallery and Movie Maker). The only problem with the Windows Live Essentials programs is that they are 'stripped-down' versions of their predecessors, lacking many features/functions.

Windows 7 users can download the actual Windows Movie Maker v2.6 (for Vista) though. A direct link to the 2.6 version download can be found in the Related Links on the bottom of this posting.