Some graphics cards have trouble running Tracked2 under Windows XP.
To use Tracked2 with Windows XP, start the mtm2 game and, on the menu, goto Options > Graphics
Set the Graphics Quality options like this:
» Graphics Renderer : Software Only
» Simulation Resolution : 320x400 (Pentium 166)
Exit the game and start Tracked2. If this doesn't work, you can't use tracked2 on your current hardware and configuration..