Is there any way that this software can record in 7 minute segments of a live feed and then create these as separate files in real time? So rather than waiting until the end of the full recording and then splitting it up what I need is for the live audio to be saved every 7 minutes so we would have 10 files of a 70 minute audio feed.
Audacity doesn’t do anything in real-time, except record. It is, primarily, a sound editor. Once you have your 70 minutes of recording, there are ways of speeding up the workflow to cut it into 7 minute chunks. However, you will have to wait for an appropriately skilled elf to come online. That kind of thing isn’t my scene!