A charity?
Jokes aside. It should launch. If it is not, then it is more than likely you have some other software installed that does not play nice. Why does it work with EQ and not EQ2, no idea, but then again, they are different games!.
The first port of call may be to look in the InnerSpace Console (right click InnerSpace icon, select Console) and see what is says. You will at least be able to see whether it is attempting to launch a second instance.
The next port of call will probably be to get a
diagnostic for crashes (yes, I know, it needs a rename), and either provide it here, or peruse it for what is hooking the game and remove it.