C750 FLC HAVE NMAC WITH A VFR C335 WHILE ON LOC APPROX 11 MI FROM RWY 7 AT ORL.

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VECTORED ONTO APCH; ASKED TO SLOW AS MUCH AS POSSIBLE (150 KIAS). WE WERE ADVISED OF TFC WBOUND AT 1500 FT; 12 O'CLOCK; 3 MI. WE HAD TCASII CONTACT BUT COULD NOT SEE DUE TO HIGH DECK ANGLE. THEN TARGET BEGAN TO CLB AND WE RECEIVED RA TO CLB. DUE TO OUR LOW ENERGY SIT WE COULD NOT CLB RAPIDLY. TARGET PASSED OFF OUR R WING AT 2500 FT ABOUT 300 FT LATERALLY. (WE WERE BOTH AT 2500 FT.) THE OTHER PLANE WAS CLBING WBOUND INTO CLASS B AIRSPACE WHILE VFR ON THE LOC PATH FOR ARRS INTO ORLANDO EXECUTIVE RWY 7. TFC WAS AT THE CHAOTIC STAGE AT TRACON AND EXECUTIVE TWR. WE WERE EVEN ASKED TO DO S-TURNS AT 500 FT TO LET A C172 LAND IN FRONT OF US. CALLBACK CONVERSATION WITH RPTR REVEALED THE FOLLOWING INFO: RPTR STATED THAT THE INCIDENT OCCURRED DURING A VERY BUSY AND CONGESTED PERIOD. HE SAID HE FIRST SAW THE VFR ACFT ON TCASII AT 1500 FT RAPIDLY CLBING BOTH WERE AT 2500 FT WHEN PASSING. IN A DISCUSSION WITH THE TWR AFTER LNDG; THE RPTR WAS TOLD IT COULD HAVE BEEN ANY ONE OF A NUMBER OF ACFT THAT HAD DEPARTED VFR.