I have a situation very much like the one at ImportError: DLL load failed: %1 is not a valid Win32 application, but the answer there isn\'t working for me.
My Python
First I copied cv2.pyd from /opencv/build/python/2.7/x86 to C:/Python27/Lib/site-packeges. The error was
"RuntimeError: module compiled against API version 9 but this version of numpy is 7"
Then I installed numpy-1.8.0-win32-superpack-python2.7.exe and opencv works fine.
>>> import cv2
>>> print cv2.__version__
2.4.13