FWIW I couldn't get this to work using Mathew's method above in Windows 10 Pro 64 , version 1607latest build.
The Universal Extractor did it's thing, and I could get Acidizer's main screen to open but then it seemed to just freeze there. Had to close it in Task Manager. I'll try again at some point but if someone gets this to work in Windows 10, please advise any steps necessary and I'll try again. While I don't work with loops much anymore or at least not 3rd party ones, this would be a good tool to have on hand. 

Looks like it's a VB6 app.  In order to get it to run on clean Windows 10 I had to install the VB6 runtime.  Which turns out is trickier than I would have thought.  I ended up getting a giant VB6 runtime installer off of sourceforge.net called "Visual Basic 6.0 Runtime Plus"  which did the job (native MS installers didn't seem to install everything).  Not really sure I can recommend going that route for most users, but I was using a virtual machine to run Win10 so it wasn't that big a deal.  My development Win7 box already had everything so it just worked.