I used this method that didnt involve downloading the hp utility, and it worked fine
Create a bootable Windows 7 on Flash Memory
1. Format the USB flash memory drive to FAT32 file system:
Run CMD.EXE and type the following command. Note: This set of commands assumes that the USB flash drive is addressed as ‚Äúdisk 1?. Double check that by doing a list of the disks (type ‚Äúlist disk‚ÄĚ) before cleaning it).
select disk 1
create partition primary
select partition 1
2. Copy Windows 7‚Äôs DVD ROM content to the Flash Drive
Type in command to start copying all the content from the Windows 7 DVD to your newly formatted high speed flash drive.
xcopy d:\*.* /s/e/f e:\
3. Setup your computer BIOS to boot from USB Drive
4. Install Windows 7 from flash memory drive