Yes, it works with steam. You have to use the 01.06.2011 trainer with the steam version, not the 07.04.2011. The 07 trainer crashes the game. If you have windows 8 the 01.06 trainer will NOT work.
I'm guessing you can manually patch the steam game but I'm not sure about that.
Not to be critical, but I posted this one page back. You may find your answer quicker looking at the last couple pages. This is for your benefit as I personally don't mind helping if I can. Sometimes people don't check the 'older' game boards.
I have it on Windows 7 64-bit, so it might be soemthing causing this to happen across all Windows.
Edit: I figured out what was wrong. When this box came up, I had to click this option use ffdshow (always)" After doing so, the game crashed once, but when I rebooted the trainer and game it worked fine. Not sure what this does, but it said something to do with compatibility. The same with GTA4 and another trainer. All is well now!
I am hopefully not the only one with this issue. No matter what version of the trainer I attempt to use it crashes or the game crashes.. I have the Steam version of Dead Rising 2 and Windows 8 pro 64bit. Can anyone help me figure this out? I've run the trainers as administrator, I've run the game with out the steam overlay. Everytime I try the thing just crashes..