I'll go back to my original answer: it doesn't sound like it.

It won't even run on 7.5 unless under 24 bit Addressing Mode and even if you could get it to do so, you wouldn't want to step the Q700 down from 32bit to 24 bit mode, that's like running a II/IIx/IIcx or SE/30 with dirty ROMs before Mode32 was released.

You might get it to barely work, without acceleration, on a 68040 under 7.0.1 or 7.1, but not anything over that according to the LEM info.