This exactly same error happens to me, after only 1-2 minutes in game it freezes and windows cursor appears on the screen and CMSF stops responding. I tried this with 7.4 and 7.7 Catalyst, both having the same problem.
I might also add that when I select units with mouse the game halts for 1-2seconds or often stops responding&throws to desktop with the error
My specs are;
Motherboard: 4CoreDual-VSTA chipset VIA PT880 Ultra
Processor: Intel Core 2 Duo E4400 @ 2.9ghz
Memory: 2048MB RAM
Video Card: Radeon X800XT PE 256MB
Sound Card: 7.1 CH Windows® Vista™ Premium Level HD Audio (ALC888 Audio Codec)
Operating System: Windows Vista™ Ultimate 32bit
Seems to be a Vista and ATI gfx related problem.