KernelEx doesn't run on Win95.
The current OA release can't run on Win95 in any way.
BUT!!!! It's possible to make a Win95* build from the latest code because I fixed the regressions involved!
1. Check
this out
2. Grab wspiapi.h from the ReactOS tree and place it in code/qcommon
3. Make with Mingw/GCC 4.7.2
There! A working W95 build!
* - Win95 with IE3 and Winsock2 instlaled at the minimum. Win98/NT4/2000/ME need no prerequisites. No KernelEx neccessary. as for DOS, it is possible but a little impractical when there's no software renderer, and the only accelerated option being a Mesa3D Glide driver. I'd imagine it'd take a lot of patience to get it going on a DJGPP compile chain. I can only see neozeed going through this big task.