Hmm, okay just for the fun of it I DL'ed the archive from the nopy link into my -standard, user- dowloads folder, and just unzipped it there, without any further ado, so it created a 'The Place Where Shizuki Is' folder there, so pretty much the same as your setup.
And it works like a charm, even without the Locale Emulator. So assuming your 'Downloads' folder has the same permissions (why not - I haven't changed mine, Win8.1 btw), the problem has to be with the unzipping software, or the characters in the game folder's address.
Like your "C:/Users/My name/Downloads/???/RE186585/The Place where Shizuki is/Data/BasicData/Game.dat" location, maybe it contains special characters -like some in your user name, or those '???', whatever that is- which makes WolfRPG go nuts.
So unzip the game to a nice and easy place, like 'D:\Games\Hexx\The Place Where Shizuki Is' or something, at any rate without ANY nont-standard characters.
See, I was able to recreate your error:
View attachment 539939
The character 'é' fucked it all up. No special characters!
Easy as that.