Selecting a Replay scene in some of the older games just has the whole game play out, automatically going through the choices that lead to a particular ending instead of taking you directly to the ending scene like you might expect. If you want to view the ending scenes in a convenient way, you're better off just making saves at them.
If your saves aren't working either, not sure what could be wrong, but folder structure has come up as an issue before. If your V16 files are buried under too many sub-directories, the program might not be able to find them due to the way path names are truncated.