Well, as long as Works Suite 2001 is an x86 software, it should work. You really should have no problem with a piece of software that works under any normal version of windows 98/2k; granted, there are always exceptions. One would hope though, that another piece of software from M$ would not be one.
Actually I was wrong, apparently! "Works Suite 2001 (Microsoft)" is one of the listed applications in the "READ HERE" link from the story on the front page about the application compatability & Euro conversion updates. So download the compatability update and you should be all set with works suite 2001.