A recent Windows security update (3045171) has introduced a bug and cause VideoPad crash randomly.
The bug is triggered by using text clips and subtitles. It effects Window 7 Service Pack 1 and earlier version of Windows.
Microsoft has issued a fix for the problem.
If you have turned on Windows Automatic Update, you can find the patch in: Control Panel->System and Security->Windows Update->Show all available updates->Optional->KB3065979. Note that it's an optional update and will not installed automatically.
You can also download the fix from here: : https://support.microsoft.com/en-us/kb/3065979
Best regards,