I don't know if the dreams are extracted before or after the check for Aero. Do you have any subfolders in the ExtractedData directory?
For video dreams, this is as simple as getting the mpeg or wmv inside and converting them to your player format (I assume you already know how to do that).
For protected dynamic dreams, I guess the activation is taking place after the check for Aero so you won't be able to run them (while I'm not doing any checks in Nightmares, the dreams themselves need the sig.bin file). You can activate manually from the command line, but it's different for each dream and you have to know the app id and everything.
For other dynamic dreams, Nightmares should work just fine.
If you can't extract them on your Vista computer, you can always go to a friend, install DeskScapes, extract the dreams there and copy the files back to your Computer... Or wait for DeskScapes XP, it shouldn't be long now 
BTW the few dynamic dreams on Wincustomize mostly have flash previews, so you can work from that.