Did MultiCFS3 create a new directory for the install in *\AppData\Roaming\Microsoft\ ?
Do you have another install of cfs3 running properly? If so, then you might try copying the ConfigOverrides.xml from that one into this one.
For AnKor's shaders you should see these lines near the top of ConfigOverrides.xm in a correctly configured install.
<VersionNumberLowPart val="0"/>
<VersionNumberHighPart val="589824"/>
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