I asked for info on the WSE main thread about some errors people were having with it, and here's what was said.
cmpxchg8b 说:
I'd like to help, but I can't do much unless you give me more information about the errors (especially by running the loader in verbose mode).
However, I can tell you something more about the errors you mentioned.
The first one is from an old version of the loader, so it's kind of expected that it doesn't work properly...
The second one means that the Warband executable is different from the one the loader is expecting. Maybe the one found by the loader is outdated or pirated, but the best way to make sure it doesn't happen is to apply the 1.143 update from TaleWorlds's website (unless it's a Steam version, in that case it should be updated from Steam). Obviously, applying cracks or modifications over the update will trigger the error again.
By "first one" he means, "could not find mb_warband_dedicated_exe," and by "second one" he means, "You are running an unsupported version of Warband, WSE is made for V1.143." So, from what I can gather, it sounds to me like for both it's basically a case of folks not having everything fully up-to-date, or using pirated versions of Warband.