I'm not completely gonna rule out any chance of a bug in this tool, but if it doesn't work the best bet is that some files are missing for the dash to run. If you patch with -f0nts the original, and only the original, fonts should be in C:\f0nts with the original extension (*.xtf). If you patch with -bak a post-live dash will first look for *.bak fonts in C:\fonts, and then in C:
Remember all settings files etc. need to be available for the patched dash too, and if you dont run PBL or nkpatcher your need to resign the patched dashboard.
If you have a game save exploit on your HDD try uninstalling your current font exploit and verify that the dash runs normal in an unexploited environment.
This patcher is the same as the one in the memcard UDE installer. I tried it on XP and the patched dash worked fine.