The Executable files the.exe, thec.exe and theg.exe are compiled for AMD-64 only and will not run on 32-bit WindowsXP
If you downloaded THE33RC1w64_Regina.exe or THE33RC1w64_ooRexx.exe which are the Windows 64bit (w64) versions then this is not a bug.
If you downloaded THE33RC1w32_Regina.exe or THE33RC1w32_ooRexx.exe which are the Windows 32bit (w32) versions then this IS a bug.
As you didn't specify what file you downloaded then I can't determine if this is a bug or not.
The only file available for downloading at 'http://sourceforge.net/projects/hessling-editor/files/'
linked to 'http://hessling-editor.sourceforge.net/index.html'
Where is the 32-bit version located??
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Found the 32-bit version -- pity that there's no Linux version.