why not? elecbyte says that fix it. However if you overwrite the ".exe" file with this patch it will reappear because the patch is of the older version.
this patch pratically downgrade you mugen version, to verify try to press F1 at the title screen and you will see that report "mugen 1.1 beta 1" rather than "mugen 1.1 beta 1 patch 1"