I have the exact problem as you did. I've gone through numerous re- and un-installs, but nothing works. If I keep the original .exe, the game tells me that I don't have the CD in (which I don't because it's Razor). When I put the cracked .exe in, I get what your problem was. I'm stuck between two unplayable versions and I'm lost...can you please try to help me or at least tell me what you did to get your problem.

EDIT: Apparently I'm blind. I downloaded a different no-cd crack [that I didn't see before, from GnatGoSplat in "Patch 1.3 released" on page 5] and everything went beautifully. Thanks for posting this, I thought I was alone in the creepy UI department.