Looks like a version conflict.
Mounting Windows Win7 boot.wim with ImageX...
ShellExecute: [Hide] using: [%BaseDir%ProjectsToolsWin7PE_SEX86imagex.exe] with parameters: [/mount "C:Win7Usourcesboot.wim" 2 "%BaseDir%MountWin7PE_SESourceBootWimSrc"]
ImageX mount boot.wim return : 2
[//-]
Mounting Windows Win7 install.wim (Index : 5 - Ultimate) with ImageX...
ShellExecute: [Hide] using: [%BaseDir%ProjectsToolsWin7PE_SEX86imagex.exe] with parameters: [/mount "C:Win7Usourcesinstall.wim" 5 "%BaseDir%MountWin7PE_SESourceInstallWimSrc"]
ImageX mount install.wim return : 2
[End]
return 2 means Wimgapi.dll error.
If you have Win7x86 SP1 as the host system, you must use wimgapi.dll (6.1.7600.16358) version suitable to ProjectsToolsWin7PE_SEx86 Imagex6.1.exe (6.1.7600.16358).
The ProjectToolsWin7PE_SEx86 and x64 files are included in the package nettyPE.zip.
You need absolutely no WAIK.
The source is a original Win7 DVD or ISO.
Please copy the Win7 DVD or ISO files conveniently on HDD in a source directory.
I suggest the following way:
C:Windowssystem32wimgapi.dll rename to wimgapi.dlo.
ProjectsToolsWin7PE_SEx86wimgapi6.1.dll copy to C:Windowssystem32 and rename it to wimgapi.dll.
Run WinBuilder.
If that does not work you should download the Windows 7 Enterprise 90-day trial iso (see above) and use as a source.
Using the tool RT Se7en Lite can integrate SP1.
http://www.rt7lite.com/downloads.html
There the slipstream method is used.
Regards