Getting libraries to load with newer jQuery using jqmulti
If you have checked "load even if no libraries are assigned", jQuery 1.7 should load regardless of anything else you do. So in your HTML you should see Drupal's jQuery loading, and you should also see jQuery1.7 loading, and also a script called switch.js, which takes care of the noConflict() mode. If you don't see those loading, there is a problem that's not related to your hook. Check the jQuery Multi settings page, does it list the jQuery version it's using?