I'm having this same issue as the OP, with the DVD TW2ee version of the game. I know he hasn't responded yet, but just to add - launching from either the launcher or the application doesn't work. the launcher dialog comes up, but as soon as I hit "launch game," the wolf symbol comes up, the screen goes to black for 2 - 3 seconds, and the whole thing crashes without any error log or other indication of a problem.
System specs shouldn't be relevant for me - I've run this version of the game on this exact system before, about 4 (?) years ago, and it was perfectly happy. I uninstalled the game, then reinstalled recently when I wanted to finish it and play TW3. something about the more recent patches have completely broken it for me.
I've tried everything I've found on the various forums, including the .NET hotfix and completely reinstalling every .NET framework from 3.5 on up, and nothing worked. the only thing I haven't tried is that sketchy edited main executable and that was posted here a few years ago, but I'm getting more tempted by the minute.