this is in the readme of the game (and this is the problem. I tried it with a version with installer and it worked)
Code:
Changing your System :
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Due to the complex nature of the file system used in Cool World, it may no
longer function correctly if any major hardware attributes of your PC change
in any way (eg adding extra RAM or an additional Hard Disk).**If this is the
case then you must re-install Cool World from the origional floppy disks.
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Have fun !!