It just works fine for me, even in A7. I just opened SED, created an empty file, copied your code and it worked.

Yup, worked for me too, straight copy and past then save and run...

It now works for me also
I tried it again but this time I saved the script into the work dir instead of the GStudio 7 dir and also made sure it was the only script file opened.

On another topic:
I was thinking that a game would render faster with fake 3D models using 2D Sprites instead of models. For instance if I built two 6 sided space ships (front,back,top,bottom,left,right), one built through WED and the other built from 6 sprites that came together to simulate a 3D ship but all 6 sprites would have to update their angles and position every frame in order to keep their 3D looks.

Would the 6 sprites boxed together and updating their angles and position every frame render faster then an actual 3D space ship model?

This fake 3D sprite ship approach sounds like a really bad idea to me, sorry. Just use a 3D model instead, if you keep the polygon count low it will even render faster than 6 sprites because the engine and the culling algorithm only have to consider one entity and you don't have to update angles and the like.