What worked for me was similar to newvelaric's post.
put trainer into bioshock folder
make shortcuts of bioshock and trainer and place on desktop
run bioshock then trainer when logo comes up.
didn't need to set compatibility or run as admin
I also have the game running in 1920x1080 in windowed mode so that you can alt+tab without game crashing. just be sure to set windowed mode on, then exit game so settings stay. settings are discarded if game crashes.
Hope that helps!
32GB Kingston HyperX 1600
2x GTX Titan SLI (Was playing with only 1 enabled)
256GB Samsung 840 pro (OS)
960GB Crucial M4 (My actual Steam/games drive)
Windows 8 Ultimate
Tried latest official, beta and old video drivers
16GB Kingston HyperX
256GB Samsung 830 (OS)
360GB Corsair Force GS
Windows 7 Pro
Create shortcut for Bioshock trainer to desktop. (right click, send to desktop, create shortcut)
Create shortcut for Bioshock game .exe from main folder to desktop. (right click, send to desktop, create shortcut)
Launch Bioshock game using new shortcut on desktop.
As game launches, Bioshock game logo should appear on desktop before game starts.
When logo appears, launch Bioshock trainer using shortcut on desktop.
Enjoy Bioshock with trainer.
* Updated game trainers and cheats daily
* Get notified when new cheats are added
* Request which games get new trainers
* Priority support with any problem