grunthos64: I am guessing no one has bothered to try and patch it or the script maker for newer computers. Fan communities of the game surely have some workarounds available though.
The fan community seems to not be having the problem- it seems to be specific to the GOG version, and all of the modders have the retail version. I asked at terra-arcanum.com's forum and nobody knew of any crashing problems.
I wondered whether GOG might have missed a file, so I used the Dependency Walker and found that it said ieframe.dll, gpsvc.dll, sysntfy.dll, and ieshims.dll were missing dependencies (probably because the ones on my system are 64-bit). So I got the 32-bit versions of the ones that I didn't have and copied the others from the SysWOW64 folder. Dependency Walker then only says some export functions are missing in ieframe.dll, but trying to launch WorldEd fails in exactly the same way it did before I copied any files.
Here's the crash details (of course the only useful parts are the exception code and the offset):
Faulting application name: WorldEd.exe, version: 1.0.6.9, time stamp: 0x3b8465a5
Faulting module name: WorldEd.exe, version: 1.0.6.9, time stamp: 0x3b8465a5
Exception code: 0xc0000005
Fault offset: 0x0013623d
Faulting process id: 0x270
Faulting application start time: 0x01cc4598e5b16f37
Faulting application path: C:\Program Files (x86)\GOG.com\Arcanum\WorldEd.exe
Faulting module path: C:\Program Files (x86)\GOG.com\Arcanum\WorldEd.exe
Report Id: 23aee8e1-b18c-11e0-8bcd-001f160dc840