Its OK to download.
The bug (and this was the reason the patch was delayed in the first place) is that Spain just wont colonise!
Paradox are putting pressure on SF to get the correct patch on their FTP server.
Paradox cannot put the correct patch up until they get it back from SF with the copy protection routines added!
The patch wont hurt the game itself just makes Spain non historical!
The "real" 1.02 patch should be downloadable before Xmas (source: SF!)
I will post here when it is available as I know some of you do not visit the EU Forums