Got it to work. Simply download mass effect 2 1.02 no-dvd fix from VITALITY and paste it in your mass effect 2 folder. Replace the original masseffect2.exe with the VITALITY masseffect2.exe. Launch the game using masseffect2.exe and the trainer works. I am able to use the retail version of the trailer. Never tried the steam version and i launch the masseffect2.exe as administrator.
Got it to work for me as well, using the renaming suggestion. There were two app files in my binaries folder (MassEffect2 and ME2Game) Not sure what the MassEffect2 file is (as it is only 162 KB in size). I renamed it MassEffect2(2) and then I renamed ME2Game (which is 15.6 MB in size) to MassEffect2. I also put the trainer file in the Binaries folder. Ran the trainer (didn't run in compatibility mode or as an admin), and then I ran the game (using the exe file in the binaries folder to start it up)...worked just fine for me after that.
Ok, for all those of you who don't understand what the renaming fix process is, allow me to give you a step-by-step.
Go to your Binaries folder: C:\Program Files (x86)\Origin Games\Mass Effect 2\Binaries
In said folder you have 4 file types that you will need. First are the MassEffect2.exe and MassEffect2.par files. Delete both of these.
Next rename your ME2Game.exe and .par files to MassEffect2.exe and MassEffect2.par.
Run your new MassEffect2.exe as admin and presto! It works with the trainer.
Essentially you are replacing the MassEffect2 game files with the ME2Game files.
Also, for future reference, if you are having trouble with your game starting, delete the MassEffect2.exe file, and your MassEffect2Config.exe file. Go to your origin ME2 game and repair/install a fresh game. (This will only re-download those game files that you are missing ie. MassEffect2.exe, ME2Game.exe and MassEffect2Config.exe). Simply redo the whole renaming process and you're good to go once again. It's a real shame we need to go through all that just to get a work-around to run the game thanks to Origin's laziness.