Doesn't work for me on 10.2.8 either (god I wish I had loads of money for a new mac)
After dragging the file outta the disk image, I double clicked the 'nice' icon, it bounces in the dock for a few seconds and then vanishes. Most apps that arn't compatible with 10.2.8 do the same thing, or as soon as the icon appears in the dock it goes striaght away.
I really hope this can be fixed. Is the App a universal build? Compiled in a certain way so it runs cross-platform? (well diff versions of OSX)
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A wise man once said he who lives in glass house should get changed in basement.