Add a semicolon (;), a single forward slash, (/) or two forward slashes (//), in front of the gauge00, and gauge o1 entries in the [Window07] entry. Like this:

[Window07]
size_mm=300,294
window_pos=0.175,0.07
background_color=1,1,1
visible=0
type=special
ident=11223
zorder=1
;gauge00=Captain_Sim.p721.wxr!wr_display, 46.5,24,207.75,212
/gauge01=Captain_Sim.r001.P04!P04_radar, 0,0,300,294

[Window07]
size_mm=300,294
window_pos=0.175,0.07
background_color=1,1,1
visible=0
type=special
ident=11223
zorder=1
//gauge00=..\..\CS_B727-100\panel\Captain_Sim.p721.wxr!wr_display, 46.5,24,207.75,212
//gauge01=..\..\CS_B727-100\panel\Captain_Sim.r001.P04!P04_radar, 0,0,300,294

Note. I prefer to use a double forward slash (//) because it stands out more.

As an alternative, you could just completely rewrite the [Window07] entry with the HUD details, leaving out the original WXR gauge00, and gauge01.