Well I give up.
From my http://www.gamesas.com/index.php?/topic/1082970-oblivion-graphics-extender-thread-13/page__view__findpost__p__15829812:
Namely the d3dx9_31.dll & d3dx9_41.dll files.
... not the obgev2.dll or the old obge.dll
I'm using motion blur with half4 variables and they are working correctly. Copying dll files is not a good idea in my view. If you get the latest directx, any directx dll file will be included and will be stored in system folder. And any application that may need it, will access them from there. Which is the proper way of things.
http://filehippo.com/download_directx/
(run DXSETUP.exe after extracting the package(to a temp folder))
Inside Oblivion folder beside oblivion.exe, if you have dx9_???.dll files, delete them too.
Instead just install directx:
http://filehippo.com/download_directx/
(run DXSETUP.EXE after extracting)
though I thought I had dx9 (when I installed the drivers for my graphics card it required me to add it) I went ahead and reinstalled it via the link you gave me.
Aside from that everything is normal...well...except the name of the OGE .dll file...for Realistic Health to work I had to rename the OGEv2.dll file to OGE.dll so it would recognize it...but in the long run, it is the same file in the same directory, and everything is there.
The one thing I am unsure about is the RAWRzFix.fx file...should that be in the OGE LO? (edit coming soon to say if dx9 fixed or not)
If new OGE is not covering all previous mods, that is temporary. And if you're changing file names, something's gonna be broken somewhere. If not you're very lucky:) I would choose between Realistic Health or new OGE, or edit Realistic health.
And RAWZfix.fx is part of new OGE, goes to data/shaders folder. It is a video card specific fix, maybe you don't need it, but just to be sure...
Edit: I'm glad it worked. You know my entire post above is a copy of first post and OGE's readme.