You need a copy of the bios file, as noted in the setup instructions of fpse (menu, help, "start how to" section). when you load the file as it says to do there, I don't think you get a confirmation, it just goes straight to the 'select iso to load' - that's normal, just choose your game.
Since you said that you have the bios and it works in other games ..... I don't know. Tell me how to save the game so I can test it. I have the game, but don't know how to save it. where do I go, what menu to I access in the game to save?
Try creating a new memory card. Do a google search for 'fpse create memory card'. Basically you backup your memory card (see below), make a copy of it, boot into psx bios, delete everything on the (copied) memory card, then play the game. See if that works.
See the posts here from bongobong (see pages 14 and 15, this link is to page 15). He said uninstalling and reinstalling saved the day for him. Be sure to backup your setting if you have any save states or save games that you want to keep - menu, misc, backup. I wouldn't re-import, I would just go to menu, misc, memory card / save state and point to the location it puts them (sdcard/fpsebackup). I actually copied them to a different folder so I wouldn't mess with the backup when I do backups.
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