Hi, sorry away from the computer last few days.
These files under the tracks folder are the exported files that Blender does when I export my .blend track file. You can't reopen the track_geom.w32 file from this folder. The only way to reopen one these track geometry files is you have a stock Flatout 2 unpacked and then replace the stock field track file with this modded one and then use the Flatout2 import option to load the modded track_geom.w32 file into Blender.
I see testing my Blender that I packup for up, I get pink textures when using the Draw type - Multi Textured. I change to the Solid option, then I can see the track objects, but they are grey, no color. One advantage using the grey Solid option, Blender will operate faster.