Ogrebattle 64 runs with NEMU 0.7a and most of the background 2D\3D graphics including text are near perfectly displayed in most instances. Unfortunatley, like Telsa-Guy stated, some graphics are missing. They're displayed as black and white boxes, where the white seems to be missing textures\animations. The game also freezes the emulator at a certain point.
From what I've gathered in review web sites. Ogrebattle 64 received perfect scores in all categories and most reviewers urge you to buy an N64 just to play this game.
However, I'm confident that in time it'll be perfectly emulated like the original Ogrebattle on the ZSNES emulator.
I am dying to play this game.