When I was a student, around 1992-93, I did shift work for a few months in an MS production facility in Dublin. When it was slack I got assigned to degaussing floppies - most of them were "Microsoft OS/2 Version 1.0" install media. I never kept any for posterity :/
You're thinking of OS/2 2.
OS/2 1.x is what flopped and OS/2 1 didn't run Windows apps because there were no Windows apps worth a damn yet.