Just did (too bored to edit the above post!): It works on a clean boot (ctrl pressed, only hddriver loaded), and I accidentally tested it with nvdi on - it still worked.

If your problem still persists (i.e. try downloading it again and copying it on your hard drive), try downloading http://d-bug.mooo.com/dbugforums/yabbfiles/Attachments/debugkit.zip, copy the 2 files in the game folder, load l_400000.prg, type "LE chips.prg" (without quotes), press enter, then press shift+f4. If we're lucky, bugaboo will catch the error - so maybe we can diagnose what happens.