The aforementioned instruction turned out wrong. non_index_version must be 1 for uncut game.
But what a bad game this is. I played for 20 minutes an thats enough for me. The best this game has to offer is the voiceactor of the main character, who is well known from the german versions of Gothic 1 ...

I found the instruction of how to make this game uncut on a german uncut patches site:

1. open options.txt in gamedir
2. search for "non_index_version 1" and replace 1 with 0

I found a fix here: http://www.old-games.ru/forum/showthrea ... 512&page=4
Download the attachment "Venom Win7 Fix.rar". Works fine for me on Win7 64bit.
Furthermore you should think of sticking it to the game entry on 3dsl, in case the fix could get lost otherwise.