Here is the forum I’m posting for assistance. These guys are champs when it comes to using BCDEdit and WinPE.
If I come across an answer, I’ll also post it here.
Screen shot of the boot screen freezing while loading:
Update: The issue was that the Windows 7 bootmgr is incapable of booting a Win PE 4x image. So I simply replaced the bootmgr on the Windows 7 boot partition with a Windows PE 4x version and it booted with no issues.