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The key to this debate is your 5.36% estimate of a push on the 7. Most resources (e.g., Wong's book, etc.) put that percentage higher, which would change the result of your analysis and make it wrong to sell off the 7.5.

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If the estimate of the game ending on Pats by 7 is higher than 5.36%, then yes +7.5 -107 likely ends up the better play. Keep in mind my assertion for the 7 number is only for the Pats winning by 7, not the game ending in 7 for either team. That number is somewhere around 10% (don't have the exact figures) and is irrelevant to this argument.