Well, Helihobby showed the 007 Gyro in stock when I ordered on Friday, but when it failed to ship out by the time I got home from work Tuesday I called them, and was told that the part was out of stock for at least 2 weeks, so I cancelled that order.
But yes, from what I have read the G007 will default to HH mode with the wire unplugged from CH5, as will most HH gyros with remote gain control.
I also have a falcon 3D which has a HH gyro with remote mode and gain control. I am using that gyro on the walkera right now, it is a night and day difference. The walkera is flying perfect with the falcon gyro. HH mode is 100% rock solid now, it turns perfectly in both directions as well.
This is the gyro I am using right now. Bottom of the page, ATS 63006. Works great.
http://www.hobby-lobby.com/falconparts.htm