http://bugs.winehq.org/show_bug.cgi?id=11761
--- Comment #4 from Lei Zhang thestig@google.com 2008-03-03 12:08:41 --- Winecfg is essentially just a wrapper to run "wine winecfg.exe.so".
The most likely cause is your video drivers. Ask your distro's support channels if you need help upgrading them.