I think i found the problem: bloom.dll from the disco exe folder needs to be renamed to d3d8.dll even under Win7.
Checked it right now and works for me with win7-64, Dx11 and Dx9 installed.
The reason is simple, Jinx. And I can assure you that DirectX older versions won't mess up with your current DirectX.
Basically you need D3D8.dll and D3D9.dll, plus the convertor.ini in order to render the screen in DX9.
In Continuum I've managed to create with Boris Vorontsov (the original creator of ENBSeries) the new EnbCoreX.dll
The EnbCore.dll is a special plugin designed exclusively for Freelancer, and in this case for Continuum. But I won't doubt that it will be plagiarised.
Anyway.
In order to make your Enb work. You will need the following: