Lossless audio with Windows Live Movie Maker 2011

I am trying to publish a project with the audio in a lossless format. The audio is in wav files before being downgraded by producing the movie. After realizing that even producing to HD quality video, audio is saved to a very lossly 192 kbps. I found some great tutorials for creating profiles using Windows Media Profile Editor, downloaded the software, learned how to use it, created a profile to save to preferred audio settings, and then discovered that the tutorials were only valid on the Windows Live Movie Maker for Vista; Windows Live Movie Maker 2011 would not recognize my newly created profile. Is there any way to use the older (but obviously more robust) Vista version of Windows Live Movie Maker with Windows 7? If so, can I save down my project to work with the Vista version? Are there any other fixes to keep audio in lossless format with Windows Live Movie Maker? TIA.