This is the Agere/Lucent MOH (Modem on hold utility) version 1.72. In order for me to get this to work, I had to first install the 1.70 version (also found here at driverguide.com).
Once you have the 1.70 version installed, unzip the 1.72 version into the directory where the 1.70 files were installed (probably c:\modem\moh1.70). Answer "yes to all" when it warns you it will replace existing files. Finally, click the setup icon that came with the original 1.70 version again, and you should be set to go. The default sound is the ding.wav file, but you can replace that file with any one you like.