Ah-HAH! Finally found out why it doesn't work on my home PC.. Typically, I keep a Audio CD in my Mitsumi, as I tend to listen to music while I work. This is what was locking up my system. If I leave my default Audio CD (Best of the Doors, disk 1...) in the CD, Executor will hit the A drive, then the HD, then the CD-Rom will flash for a _very_ short time, and then the system locks up. Note that I am not dumb enough to try to have it playing while I run Executor. If I have a Mac or PC CD-Rom, no problem. It seems to be OS/2-specific, too. Didn't happen when I booted to Dos and ran Executor a few days ago.
Also, if I put in a "The Disc" from CD-Rom Today magazine (I highly recommend it, $8 for a Mac & PC CD-Rom isn't bad), then it will create 2 new drives in Loser, an "F" drive and a "The Disc" drive. See, those disks have both Mac and Dos formats on them. I can access the Mac portion with no problems, but if I try the "F" drive, no matter if I hit it before the Mac part or not, Executor locks up. CD-Rom does not flash or anything, the cursor freezes, and I have to task switch back to OS/2 and kill the Executor VDM. I'm not sure about if it happens in Dos on this one.
All this is happening on 199n3, BTW. I'm downloading 199n4 as I type this.