A few questions to see whats going on. Does the file play in WMP or any other player? Does the file have softsubs, not hardcoded on the picture, and do you have the Subtitle DirectShow Filters or VobSub installed?
Edit: Err wait one sec, do you have the OGG Vorbis filter installed to play OGG audio? What you need is the OGG Direct Show filters,
http://tobias.everwicked.com/
Get the OGGDSF download thar, unless you already have that installed, then answer the above questions, but if it says file not found it may just be that you do not have this codec installed.