In the preferences dialog, in the "File Safety" tab, try setting the "Read Access" option to "Read from anywhere."
If your game really doesn't try to read files from somewhere else then its own directory, you might have found a bug. You could send me your game file in that case so I can take a look at what's wrong. (My email in the "About QTads" dialog. Or you can send me a PM here.)
This is the first version of the interpreter with split read/write permission support, so having found a bug in there is not unlikely.
It seems to be a file permissions thing. Today I'm running from the desktop, but once I set the permissions, it loads the game. I only noticed the problem because my tester encountered it. I'll let him know and keep you posted if there are further problems.