When I tried to install BibleWorks 7, the installation process stalled when I inserted the 2nd CD. I discovered a solution for this problem. While you insert the CD into your CD drive, hold down the SHIFT key. Keep holding it down until the access light goes out on the CD drive. Then press the OK button in the box that prompted you to enter the next CD. Holding down the SHIFT key tells windows not to run the AUTORUN file on the CD.
Check this out no-production-value tutorial video. I had the same problem you had and the BW service folks had sent me to this post. (BTW - the word of the day is "had").
Stalling During Installing