I recently tried with with Ubunto 10 and stock wine (i didn't try any 'tricks"). Zeus did work, but the Workspace tools did not work...
Inspired by Rat's efforts I tried running Zeus on Ubuntu 11.10 using the standard Wine package that comes with that release.
To my surprise I found that nearly everything worked
The results of my efforts can be seen here: http://www.zeusedit.com/platform.html
Using the tricks
For Ubuntu 11.10 I didn't have to resort to any of these tricks.
does the Workspace/Projects/Tags work?
Yes they did, as can be seen from the workspace, class browser and autocomplete screenshots.
I spent an hour or so testing the setup and from what I found most thinks did work.
For example the latest Zeus installer includes a python26 command line interpreter.
On this Wine environment I was able to compile, run an even debug a Python script all from within Zeus.