Now I've got it!
The problem only shows of with the Unicode version of explorer.
Please try to reproduce it with explorer build by "make UNICODE=1",
or use that in my downloadable archive at
http://www.sky.franken.de/explorer/ros-explorer.zip .
I deleted once more any *.d and *.o files, executed
"make clean" and "make".
There is no problem compiling and installing all from scratch.
But explorer terminates unexpected in Bochs and in VMWare.
Winehello and Winemine can be launchud without problems.
I am also using the Dlls of 23.12. from Filip's web site like you.