Since your custom HUD is not shown, what is shown instead: the default HUD or none at all?
It would also be good to see the hud.png you are trying to use. If you have enough upload, please consider making the entire techtree available, too. You can send the URL to where you uploaded it (not the techtree itself) by e-mail to our contact address if you prefer it not to be public at this time.
If that's not an option, can you provide the exact location (full file system path) of the HUD file?
The logs seems to indicate that the game is looking for a custom HUD but not finding one in the place where it expects it:
[2012-01-21 15:49:54] In [..\..\source\shared_lib\sources\platform\common\platform_common.cpp::Shared::PlatformCommon::findAll] scanning [D:\Dropbox\GlestINSPaceModding\GlestINspaceModWorkingGame\\techs/glestinspace/factions/uef/hud.*]
[2012-01-21 15:49:54] In [game.cpp::Glest::Game::Game::loadHudTexture Line: 554] looking for a HUD 'D:\Dropbox\GlestINSPaceModding\GlestINspaceModWorkingGame\\techs/glestinspace/factions/uef/hud'
[2012-01-21 15:49:54] In [..\..\source\shared_lib\sources\platform\common\platform_common.cpp::Shared::PlatformCommon::findAll] scanning [C:\Users\Frederick\AppData\Roaming\megaglest\techs/glestinspace/factions/uef/hud.*]
[2012-01-21 15:49:54] In [game.cpp::Glest::Game::Game::load Line: 714]
[2012-01-21 15:49:54] In [game.cpp::Glest::Game::Game::load Line: 718]
[2012-01-21 15:49:54] In [..\..\source\glest_game\world\world.cpp::Glest::Game::World::loadTileset Line: 262]
I.e. the game thinks that neither of these files exists (other file extensions would work for different file formats, too):
D:\Dropbox\GlestINSPaceModding\GlestINspaceModWorkingGame\\techs/glestinspace/factions/uef/hud.png
C:\Users\Frederick\AppData\Roaming\megaglest\techs/glestinspace/factions/uef/hud.png