First, my AVG antivirus didn't like it.
Heh, it is an executable file being downloaded off the internet. Certainly something to be cautious about. Any detailed messages from AVG about it? I assume the error message you quoted was from Windows itself, sometime after an AVG warning.
Arklon may be right about the file being quarantined, or having had execute permission removed. I've seen that error message when I try to run setup files from a network drive. I had to copy files to a local folder before they would run, or at least before I could run them in Administrator mode.
If Arklon is also seeing flickering, than the cause is probably not related to Wine. Maybe there was another part to the patch I forgot about. I suspect there was no code to restore a DirectDraw context after a screen mode switch, so alt tabbing out of the game, or other flickering in and out of the set mode, could cause problems, likely resulting in a crash.
There shouldn't be anything Wine specific about the executable file. It's just the usual Windows binary, with a few bytes changes concerning the patch and the resolution.
I don't have any next steps in mind. If this isn't working, I'm not sure what to suggest.