Hi,
I know it's a couple of months since this was posted but in case you still need help or someone else looks here for the solution I got both BR and BR2 working round this error by using the dgvoodoo .dll files.
http://dege.freeweb.hu/dgVoodoo2/dgVoodoo2.html After extracting them to the main BloodRayne(2) folder you will need to go into the BR(2)'s system folder and edit the rayne.ini file.
There's a section under [Graphics] titled 'rendererDLLPath='
Remove the dll name/extension after the = sign and replace it with D3D8.dll, so that the line now reads:
rendererDLLPath=D3D8.dll
In Blood Rayne 1, you can also try setting the renderer to OpenGL instead of using dgvoodoo, didn't see that as an option for 2.
Chief :)