Your computer is running one Operating System which has to run another Operating System, which is running a game.
As OS X evolves further and further from the Classic OS, it's getting that much more difficult to emulate the old System on top of the new System. The only real workaround is to boot into OS 9 if possible.
If you boot your machine into OS X, then you should play Ferazel's Wand X. Go to: http://www.ambrosiasw.com/games/ferazel