So close! :)
using the tip that IE is a prerequisite for the game...
I tried to install IE under CXG. It is not listed as supported, unfortunately. Trying IE6 generates an error that a newer version is installed. IE7 simply fails.
Crossover Standard is a different story. IE6 uses a Windows 98 bottle (not good enough for HKO). IE7 uses WinXP, which is perfect. I installd IE7, Flash 10 and HKO.
It worked!
However, it appears that the minigames that pop up in a sub-window do not run at all. I don't know how vital they are to gameplay.
Time to poke around a bit more.