The problem was in these lines of content below and reproduced in IE7:
<script type="text/javascript" src="http://www.google-analytics.com/urchin.js"></script>
<script type="text/javascript">_uacct = "UA-2430065-1"; urchinTracker();</script>
This is actually Google Analytics javascript and for some reasons it does not work if it is inserted into page content under IE7 - the browser just "hangs".
For now, we have removed these lines from our content and you can edit the page again.
We are investigating the reason of this and as soon as we found solution we will notify you.
Evgeny Zaritovsky,
Apricot's Kernel
Wild Apricot team