Can I use cruzer extreme as a bootable device?

This above is the usb stick in question.

Can I boot and install win7 from it? Can I boot linux from it?

The answer is yes. All USB flash drives can do this task. But, all of them are not configured as bootable by default. You need to configure it first. Below is a good place to start.

k cool thx. Ye I know how to make usb sticks bootable =) Just heard that people have had issues with this particualr one cause it is basically a ssd disk or smth like that :stuck_out_tongue:

Check out Easy2Boot and RMPrepUSB.  They are current and maintained unlike a lot of the older utilities that make USB drives bootable and will work with anything.