I've never used studio 7, so am not sure how you have got into this predicament. I have had it happen with studio 8, though not in 2 minute chunks, usually because the sound track is still there and the video one isn't. It extends itself sometimes when transitions are inserted.
Only suggestion I have, off the top of my head, is to make an avi file of what you've got, then open that in studio 7 and delete the blank bit there.
If it's too long to do that, make an avi file of an excerpt with a few minutes before and after your blank bit, and again delete the blank bit. Then resave the new bit as an avi file and introduce that into your video. You would probably need to save the rest of your film the same way, then join the clips up.
Win XP, Athlon 1.8, G force 3 T, 1 60gig drive + 1 250 gig, Pinnacle Studio 9 plus mostly, Premiere 6, and Vegas 5 sometimes, Soundforge, Cool Edit.