First I ran ksmod.exe with the default settings, ie only High_Def_Composite set to 1 and no command line, and the game loaded and worked but no high def textures. Then I put -image on the command line, which worked, and to verify I ran ksmod with the default settings and -perf as the only command line, and it showed the performances, but still no high def textures. It was in Balth temple. After that I closed the client, ran ksmod.exe as an administrator and played a char with the same results.
After that I always ran ksmod.exe as an administrator. I redownloaded ksmod and replaced the files, rebooted my comp and tried UT99_Sound_FX=1 only, went to Jarin and killed a bunch of spiders, but nothing happened. Then I used Virtualization alone and after that Virtualization and VR_DisableCache, but if I executed ksmod.exe after logging in a second time, nothing happened.
Then I set everything to 1 and -perf as the command line, the game worked and I had my perfs displayed but nothing else.
Hope I was clear here.
I used KSMod in the past (before and after the "nerf") on this comp, and I can still use MultiLaunch.
Edit: Well, I apparently fixed the problem by extracting the archive to a folder where I have a copy of gw.exe and gw.dat, that I used for Multilaunch. It's located in "C:\Users\Alexandra\Desktop\Guild Warz" instead of "C:\Program Files\GUILD WARS", which is my install folder... Don't really know why this is happening, but I'll settle for it.