For the utility to work properly you need to save the modified bic file in an uncompressed format. This is done in the View menu under Options. Make sure that the box for Compress BIC Files is not checked. Then you can save & open.
However, I must say that your compliment of genius attributed to me a couple of posts up (thank you very much, btw) is, unfortunately, misapplied. I have done some mucking around with the utility, trying to do what I suggested (save as bic, open with biq editor, resave as biq), and have found that it does not work.
You can open the bic file in the biq editor all right, and even save. But once you try to play the game and load that altered biq (which used to be a bic), the game crashes. Not sure why. Sorry for the misleading information.