yes i get that menu issue, cant seem to make it go away, not sure what the cause is, perhaps the good folks on the dxwnd forum at sourceforge might have answer
regarding the game speed, yes it willl run a bit fast but there are fixes - in dxwnd, there is a tab that features timing settings - tweaking those will fix things right up.
regarding DGvoodoo - i actually made a mistake there, i though i was using dgvoodoo as welll as dxwnd but i looked in the game folder now and dgvoodoo isnt in there. that being said, i find i can use dgvoodoo while also using dxwnd (for some other games i have done that) sometimes there can be issues, but these mostly come up if i am also using windows compat settings too.
i havent tried it but if you can run the game with just dgvoodoo alone, and if you have an nvidia card, you could tweak the frame rate settings from the Nvidia control panel - this work for me to fix up the game F1 Racing Simulation from Ubisoft