[[escafandra]]

Otra forma de hacerlo mas compacto usando las bondades de C++:

bool IsRunning16_(char* Name)
{
  struct TRuningProcess16{
    char* Name;
    bool Running;


    static BOOL WINAPI
    ProcessTasks(DWORD dwThreadId, WORD hMod16, WORD hTask16, PSZ pszModName, PSZ pszFileName, LPARAM PE)
    {
       if(strstr(strupr(pszFileName), strupr(((TRuningProcess16*)PE)->Name)))
          return ((TRuningProcess16*)PE)->Running = true;
       return false;
    }
    static BOOL WINAPI
    ProcessVDMs(DWORD dwProcessId, DWORD dwAttrib, LPARAM PE)
    {
       VDMEnumTaskWOWEx(dwProcessId, (TASKENUMPROCEX)ProcessTasks, PE);
       return ((TProcessEnumData16*)PE)->Running;
    }

  } PE = {Name,0};

  VDMEnumProcessWOW((PROCESSENUMPROC)ProcessVDMs, (LPARAM)&PE);
  return PE.Running;
}

Saludos.