In addition to my previous post about Little Fighter 2 on Linux and in order to give a more complete picture, I want to add more information.
Sometimes Little Fighter 2 will show a dialog with the error message "Could not create art filter for this graphic." or something like that. This error doesn't cause the game to crash. You only need to press the OK button to get it out of the way. This usually happens in certain stages probably depending on the incoming opponents. However, there is no lack of any graphics in game, so it is not really relevant.
In order to play Little Fighter 2 on Linux using WINE, you'll need to install the vcrun2005 library. This can be easily done using winetricks.
I've had one single issue so far when playing LF2 on Linux since my last post about it. Sometimes when it lags in a network session, it happens, that you press a button before it lags and release it while it lags. In this case the character will act as if you were still pressing the button on your keyboard after the lag. To fix this usually it's enough to press that button again, so that the game receives a key released event from the keyboard. The same issue is present under Windows. However, under WINE it happened to me, that I could not make my character stop going in the directions, which "got stuck", no matter what keys I pressed afterwards. It doesn't happen every time when a key gets stuck, but apparently sometimes. Imagine it happening when you reach a high stage in survival mode. That would be quite annoying. So for now I guess I'll simply use my Windows XP machine for playing LF2 again.