What Windows language you're running? In WAC there are several filenames with German
ü. SH3 opens these files not in all language versions of Windows. Ah, those problems with internationalization...
You can try
solution from Russian forum. Maybe it will help...
Just install this with JSGME after WAC.
P.S.: If you want, you can remove Russian font
(data\Menu\Fonts\FPCond18.tga) from this fix
.