Try this, your problem may be related to an incomplete or wrong "Playlist.m3u" file.
Since you have used kino before, and you may have a setting in Prefrences > Playlist checked, this may be your problem.
(I don't remeber which setting causes this, but this has happened to me in the past).
Some settings are checked by default.
Kino may be looking for a movie that is no longer available in the "Playlist.m3u" file.
Look here and delete "Playlist.m3u"
(any file or folder that starts with a period '.' is hidden, make sure you can see hidden files in your filemanager)
You'll need a "Real" filemanager, the Qtopia files tab wont let you view hidden files.
Now you should be able to restart kino, and it will rebuild the playlist.
Once you have it running, uncheck some of the options on the Playlist tab under Prefrences.
Thanks for the tip, after yet another reinstall of Cacko 1.23, I was able to get everything where it is supposed to be, and just made a decent backup. Hopefully I wont have any more problem like this.