As more and more 7950 users were complaining of Blue Screen of Death (BSOD) installs on drivers I began to look into the issue personally. I was able to track down its cause to the ever popular coolbits. Apparently, for us 7950GTX users, this registry entry is not so cool. I will give three strategies for repairing this problem. Note that both pre-install and post-install refer to the driver installation.

Caution: All three of these methods will prevent you from being able to use the Nvidia Control Panel to overclock.
Note: This is not a big issue since the control panel interface for coolbits isn't all that great anyway. Just use ATITool, NTune, or RivaTuner to overclock your card if you wish.

Pre-Install BSOD FIX

INF Modification
If you are using a LV2G driver then this is the quickest method.
Open up the driver INF and remove the coolbits line.
It most likely looks like this:
So just search for "cool" within the INF and delete the whole line.
Proceed with the installation.
You should be good to go.

Post-Install BSOD FIX
You may be forced to use one of these methods if your driver set does not allow access to the INF.

Registry Overwriting
I will post an explanation later but all you need to do is download this file
Most likely you will have to install it in safe mode (F5 on startup)
Once you install it, reboot.
Your problems should cease.

Registry Deletion
Start -> Run -> Regedit
Go to HKEY_LOCAL_MACHINE\SOFTWARE\NVIDIA Corporation\Global\NVTweak and remove the coolbits entry
You should be good to go.

NOTE: Newer mobile drivers should not have BSOD problems because the coolbits entry has been removed from the modified INF.