chrome.exe is not in the 'programs' folder and so also not in windows search path!

for me the best solution was:
- copy a working 'chrome' shortcut from your menu or desktop
- right click and edit 'properties'
- change the 'destination' entry and add the argument '-ignore-gpu-blacklist'
- rename shortcut to 'chrome without SSE2' or something ;-)

what a strange idea to show an error message like this, instead of handling the situation automatically. hopefully the chrome developers will change this behavior!