It requires MDS Runtime 1.1.2 or higher... 1.1.2 can be downloaded from the BlackBerry website..
https://www.blackberry.com/Downloads...150A60844BB94C
Looks like it will work on 4.1.x through 4.2.2
Not sure if the 7290 will run 4.1.x OS or not
EDIT: Just Googled it... looks like 4.1 will run on the 7290 but I imagine it may be a bit slow compared to the newer 64MB devices
General and 4.1 Blackberry OS Guide - PinStack.com - Blackberry Forums