Do you run an ATI video card ? Some ATI card can't run the 32-but patch, so you have to set Standoff to 16-bits. Alternatively, you can try a replacement DLL that has been installed with Ep2.
Rename gl_0000x.ati to gl_0000x.dll (backup the original one first). This alternative DLL fixes 32-bits on some ATI setups, but not all... if it doesn't you'll have to run 16-bits.
So first thing you have to try 16-bits... it it's indeed because you have an ATI.