I'm able to run LV 7.0 on kernel 2.6.3 without problems. However, I've
read that it could have trouble with the new threading system in 2.6.x.
LV 7.1 supposedly resolves potential threading issues. Still, you should
be able to at least open LV without any problems - from what I've seen so
far.
I bet the problem you're seeing is more links to the Fedora 2 distibution.
Be careful with Fedora, they tend to use the most recent release of
everything. I had a similar discussion with someone less than a month
ago. Looked like there was a problem with the version of glibc libraries
in Fedora 2. I'm not sure what he did next, he never replied to the
group. I bet he went back to Fedora 1.
Good luck!