Using 0.98.7.
As in, an executable created with Construct looks for any OGG files used by the project in the absolute directory the project was created in.
C:\Documents and Settings\Stuart\My Documents\My Code\Construct is the directory where I keep all my Construct projects and related files (PNGs, OGGs, MP3s etc etc).
So:
I loaded up a test project and exported it to an executable in another directory.
Next I renamed the Construct directory under My Code to something else.
Then I attempted to run the executable. It came up with an "Unexpected error" and terminated.
When I renamed the Construct directory back and re-ran the executable, it worked.
Note that as I only use OGGs for sound I have not tested this with other sound formats.
I am aware the priority of looking for OGGs (at least) is the executable directory then the project home directory, but I guess the real bug here is that if it can not be found in either location it shouldn't crash as it does - exit gracefully or run with no sound, I guess?