Apply two changes, systematically:

(1) Use PyErr_NewException("module.class", NULL, NULL) to create the
    exception object.

(2) Remove all calls to Py_FatalError(); instead, return or
    ignore the errors -- the import code now checks PyErr_Occurred()
    after calling a module's init function, so it's no longer a
    fatal error for the initialization to fail.

Also did some small cleanups, e.g. removed unnecessary test for
"already initialized" from initfpectl(), and unified
initposix()/initnt().

I haven't checked this very thoroughly, so while the changes are
pretty trivial -- beware of untested code!
diff --git a/Modules/reopmodule.c b/Modules/reopmodule.c
index de5c63d..6c671c8 100644
--- a/Modules/reopmodule.c
+++ b/Modules/reopmodule.c
@@ -958,7 +958,7 @@
 	d = PyModule_GetDict(m);
 	
 	/* Initialize reop.error exception */
-	v = ReopError = PyString_FromString("reop.error");
+	v = ReopError = PyErr_NewException("reop.error", NULL, NULL);
 	if (v == NULL || PyDict_SetItemString(d, "error", v) != 0)
 		goto finally;
 	
@@ -1048,6 +1048,6 @@
 		return;
 
   finally:
-	Py_FatalError("can't initialize reop module");
+	/* Nothing */;
 }