Greywolf1: Are you saying that installing M2 v098 alone worked for you? Perhaps I'll have a look at PCEM - using OTVDM I had to install M2 v0992, too. But perhaps I made a mistake.

Using an emulator (or VM) to run software may not be to everyone's liking, but if you have to choose between this and not being able to use the software at all, then you have to decide ... And using a frontend like GOG Galaxy or Steam is not much different (they add another layer of complexity).
At least for DOSBOX, DOSBOXWIN and OTVDM (the ones I'm familiar with), it is possible to launch games in a command mode fashion, that is you can launch them by double-clicking an icon on your desktop (essentially, you launch the emulator and add the game exe to the launch command).
I came across OTVDM last year, when Steam launched an OTVDM-based version of Space Empires 2, and I'm using it also to run Stars!, Exile and other 16bit Windows games. I had a quick look at PCEM recently, but gave up when I read about BIOS ROMs, operating systems, etc., which you have to install alongside with PCEM (which makes it a VM-type software). If PCEMWIN98SE has all this stuff preconfigured, it might become "digestible" for me (I'm a lazy person).

Mordor 2 is an incomplete game which was never published. There are two different fully playable beta demo versions (limited number of dungeon levels) available: M2 v098 (called "2d" above), which is an evolution of M1, and I think most traditional Mordor players prefer this one. And there is M2 v0992 (called "3d" above,), which was an attempt to convert the dungeons to 3d by a different developer. After a short intermezzo ("M2 Infinite Worlds"), M2 development continued under the new name "Demise" ("Rise of Ku'Tan", "Ascension"), based on M2 v0992, the 2d version was abandoned. Demise is available on Decklin's Domain (an earlier post contains a link), and you can also download the old M2 3d demo beta from there.

thedkm: ... after installing M2 v098 the game launches without error.

For PCEM- there is a version already preconfigured with Windows 95 installed, I can provide you a link if you want to get it, but in this case we will have to continue this conversation, in Private Message if you know what I mean. ;)