Compiling: copy downloaded subtree over kernel tree (tested 2.6.27-7). Select walkera0701 module in menuconfig (device drivers -> input device support ->joysticks/gamepads ->Walkera 0701 RC transitter)
compile, install and reboot to new kernel. Install module "walkera0701" by modprobe walkera0701. If module like "lp" is loaded, please before modprobe walkera0701 remove (rmmod lp) this module.
To compile module without building full kernel, download Makefile, copy this file inside source tree and run
"make". Install module by "insmod drivers/input/joystick/walkera0701.ko".