Hello,
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If the trim pump is running but the drive unit will not go up, you may be low on trim fluid. With that said, you will have one of two types of trim pumps on your Volvo Penta engine/drive application, one that is mounted in the engine compartment or one that is mounted externally on the starboard transom of the boat (I suspect that you may have the external pump with the very small trim hoses since you have a 2007 model boat).
If you do have the external trim pump, there is a small fill cap that you can remove to fill the reservoir but the boat must be out of the water to check or top off the fluid (not one of Volvo Penta's greatest ideas). We have had a ton of issues with these transom mounted trim pumps leaking fluid (they are not serviceable so they must be replaced if they are leaking - you should be under warranty if this is the case). If you have a trim pump mounted inside the engine compartment, you can check/top off the fluid level without pulling the boat out of the water, if you do not find a trim pump in the engine compartment, I suspect that you have an externally mounted trim pump.
The best option may be to remove the cotter pins and the mounting pins for the trim cylinders at the rear of drive unit (simple to do with a pair of needle nose pliers), then tie the drive up with a rope until you can have your Volvo dealer look at the trim system.
I will attach a reference picture of the trim cylinder mounting hardware location for the newer SX-A and DPS-A drives for your reference (the red arrows point to the location where the cotter pins and mounting pins for the trim cylinders that must be removed to manually lift and secure the drive with a rope)....
Here is another parts breakdown picture that shows the trim cylinder mounting hardware a little better (the components inside the red square) for the newer DPS-A and SX-A stern drives, the red arrow in the picture points to the fill cap of the external mounted trim pumps where you would add fluid if the pump was low...
I hope that you find this information useful, thanks again for your question.
Service Manager, Master technician
Service Manager, Master Mercruiser, Master OMC Cobra and Certified Volvo Penta Technician