I am hoping to make a Live version of VL7. It will be some time before we're there though.
On your installed system, run (as root, in a terminal): vliloconf
When you get to the screen about "lilo frame buffer console", you can select different options.
For your sound, first run "valsaconf" to configure sound card.
Next, run "alsamixer" and make sure the volumes are turned up and no output channels are muted.
Use right/left arrow keys to select, up/down to adjust, and "m" to mute/unmute.