its not winmx itself that wont work, winmx goes all the way to win95 rev A, its the oledlg.dll 'community' patch written by eagle that wont work.. the patch makes calls to the os that only win2k or higher support.
the KernelEX software adds many of those functions to 98 allowing the patch and quite a bit of other software to work that otherwise wouldn't..
for the curious; the reason i have 98 on real hardware is so DOS software can read/write data from usb thumb drives.. kernelEX was a geeky toy i found with the bonus of getting VLC to run on the same platform, so naturally i had to see what else i could make it run..
winmx and the patch running like that is essentially .DLL hell twice over so the tinkerer in me -had- to see if such was possible