I have had issues with explorer.exe faulting when I open a folder with a video file several times in the past; all of aggravated me enough that I eventually formatted and re-installed XP or Vista. I am sure that this is a codec issue, but no combination of uninstalling/reinstalling seems to resolve this.
I am starting to see a pattern- it seems to occur after I allow Windows Media player to download a codec; perhaps it doesn't play nice with XViD/DivX?
Oddly enough, the movie will still play- it is just Windows explorer's ability to generate thumbnails that seems to cause the issue.
I did a search and found a work-around to re-formatting. From a command line, enter the following:
regsvr32 /u shmedia.dll
This disables thumbnails- and stops the Explorer faults.