I have been trying to install the same package with wine as well.
I've read lots on the web about you need a "clean WINEPREFIX" for it to work but I don't really understand this. This page here is useful:
and it states that it will install on PCLinuxOS if done correctly.
I followed the information on there as well.
I think the wine side of things is actually working OK.It is when the windows installer running under wine gets to a certain point it encounters
"A serious error". and halts.
Like you I have successfully installed and run other windows software with wine.
I came to the conclusion .Net framework was failing to install when the setup program connected to the microsoft web site.
I suspect it could be failing a check for the presence of a genuine microsoft operating system being installed.
I encounter the same problem trying to install .NET framework on a Windows XP box which microsoft has decided is not genuine software.
As I inherited the computer off a relative and there is no XP installation disc I gave up.I can't update this computer with microsoft for the same reason.
It was the reason I thought to try wine on a Linux computer..