Right, I wouldn't call that a launcher, that implies an external program that loads the FF8 exe in some way.
Anyway, this is most unsettling, there are two *different* 1.2 versions out there.
Eidos are distributing a patch that is more than two weeks older than Squeenix's and they're not from the same revision (this is what makes them incompatible, something was changed in the source between these two builds)
For now, just use the geforce version from Squeenix.