Don't think Uli ever got too far in it. The dot3 and spec shaders are the problem children, as far as I checked, there aren't TOO many shaders that crash the game, but others are buggy, especially with bloom.
I'd imagine attaching the right NGE .dll's might fix it, but haven't tried editing the .exe yet though. NGE .exe doesn't work on the Emu, all of the .dll's except the sound one (Mss32.dll) do work though.
Here is the list of NGE .sht files that crash the game; http://img696.imageshack.us/img696/8622/crashers.png
Here is a batch of screenshots I made 2 months ago when I was trying around with the stuff, as you can see the lighting/reflections are really problematic, anything in the sky doesn't show and bloom is horrid.
Link