I'm having troubles launching the game as well. The game keeps complaining that there is no "Bad Mojo CD present in drive C" when I'm trying to run the exe. There's no help from the tips above, and consulting the GOG support didn't give any workable solution either. Any ideas?
If you're running the game on a computer without a physical drive, try installing a virtual one, like Daemon Tools Lite or something similar. You can also try to insert a CD (any disc should do) in your disc drive, if your computer does, in fact, have a physical drive.
I would recommend uninstalling and doing a clean new install of the game, as well, and, please, make sure the game is installed on something like 'C:\BadMojo' -- no subfolders and using no spaces or special characters when typing the name of the folder. I have to do the exact same thing with some other FMV-heavy games of the same era, in order for them to run properly.
If everything fails to do it for you, submit a trouble ticket to GOG support, via this link: http://www.gog.com/support/contact/technical_issues_with_games/bad_mojo_redux
After fidgeting around with the game every possible way I've read about, I'm giving up and sending a troubleshoot request to GOG support. The game just not willing to work. I guess I have angered a voodoo priest or something to receive such a bad... luck. Thank you anyway.