Photoshop has a problem calculating free space if there is a terabyte or more available on a drive. If your home directories are on a network mount with more than a terabyte of free space, you might have trouble launching photoshop.
A default configuration has the 'C' drive mapped to 'fake_windows' (which cxoffice will look for in your '~/.cxoffice/dotwine' dir). Photoshop's scratch disk will default to using the 'C' drive. Therefore, if your home directory sits on a volume with more than a terabyte of free space, Photoshop won't be able to write to it's scratch disk.
What I did was create a new drive in the config file (drive 'S' for 'scratch) and mapped it to the path "/tmp". I started photoshop as local user, then changed the scratch disk setting to point to the 'S' drive. Then I copied the "fake_windows/Windows/Application Data/Adobe/Photoshop/7.0/Adobe Photoshop 7.0 Settings/Adobe Photoshop 7.0 Prefs.psp" file to my network user's directory, overwriting the default. If you have a multi-user set up, you can just configure the Photoshop settings as the root user, and then use the 'cxoffice/bin/buildrpm' script to make an rpm file of the whole thing.
If your home directories are on a samba mount, the fix is easy. Just put the following line in the [global] section of your smb.conf:
max disk size = 990000
This will trick the "windows" clients into seeing less than a terabyte of free space.