AHA...What has happened is the patch has not installed correctly...this happens a lot on 64bit systems....sometimes you have to wait a long time for it to finish the patching....I have a manual fix for you.
here is the file it's asking for...
35mm_tracer.zipextract the 35mm_tracer.dds from the zip file and open up Objects_client.zip....navigate to /effects/textures/ ...and drag the 35mm_tracer.dds into the textures folder
let me know how you get on

OH ...and as kano said..thanks for submitting the problem in the correct format..we appreciate it!