It looks to me like there's a .NET launcher that is correctly starting the actual game executable, but the game executable doesn't work.
This might be relevant:
264960.875:003e:0058:fixme:avrt:AvSetMmThreadCharacteristicsW (L"Audio",7FEEFE8C): stub
264960.875:003e:0058:fixme:avrt:AvSetMmThreadPriority (12345678)->(1) stub
264963.373:003e:003f:fixme:wmvcore:WMReader_Open (012FDA18)->(L"data_common\\ACCOLADE_logos.wmv" 1EE70200 00000000)
Nothing extracted yet.
Compatibility Report
System Information
I confirm:
steam-627910.log
Symptoms
The game doesn't start (past the Launcher). The game stops when the ball of yarn spins, presumably when trying to play intro videos. The problem seems to be related to WMV (wmvcore).
Reproduction
Start the game. Confirm the info in the launcher. Press the Play! button in the launcher. Wait for a few seconds.