@Xdqwerty, Nope. There are two download buttons on the same page, where you can download the original under a file called "bear.exe". "bear2.exe", however, is the updated game in a Flash projector. P.s. this was on the archived Pico page from 2000.
Fun fact @SylverReZ: iirc one of the goals on the fnf Kickstarter stated that pico 2 would be finished but the Kickstarter didnt get enough money for that goal to be fullfiled