The windows system popup "Application xx has stopped working." is one of the worst error messages ever invented by
software engineers, it provides almost no information 
Post the errorlog.txt from the directory where you installed PlaneShift. Or start the game from a console and post the
messages.
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/top_left_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/top_right_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/bottom_left_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/bottom_right_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/left_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/right_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/top_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:27 2010, Could not open image: >/paws/base/maps/leather/bottom_1.png<
Fri Sep 10 07:09:27 2010, <..\..\src\common\sound\system.cpp:36 SoundSystem::Initialize SEVERE>
Fri Sep 10 07:09:27 2010, Failed to locate Sound renderer!
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/top_left_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/top_right_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/bottom_left_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/bottom_right_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/left_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/right_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/top_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\paws\pawsimagedrawable.cpp:66 pawsImageDrawable::PreparePixmap SEVERE>
Fri Sep 10 07:09:41 2010, Could not open image: >/paws/base/maps/leather/bottom_1.png<
Fri Sep 10 07:09:41 2010, <..\..\src\common\sound\system.cpp:36 SoundSystem::Initialize SEVERE>
Fri Sep 10 07:09:41 2010, Failed to locate Sound renderer!