Ok, from what you say about the spinning ball being on screen for around 10 seconds it sounds like its the face gen initialization function thats crashing. This ties in with the crash only happening with facegen turned on. Because it does not always behave the same it tells me it is either a dangling ptr or uninitialized memory. These are the worst kind of bugs to find
I have checked out the mood icons and they are fine. I am guessing that they cause memory to aligned differently on skin load, thereby affecting this bug. This hints to be its a memory/ptr issue. If you look at the right window on your screen shot it is crashing inside "ntdll.dll" which is the main windows system DLL. This means the crash is being caused by duff memory being passed into a windows API function. This could be either because the argument passed in is wrong or the program stack has been trashed by an earlier error.
You have given me some very important information on what this bug is, however I am unable to continue looking into this and need to defer it to Andreas. The main reason for this is that I work exclusively on Linux which currently does not have facegen working. Also it looks to be related to the window API functions calls which need debugging on windows. It would take me days to debug this inside a windows emulator. Given all your info above, Andreas may well be able to find it by starting in .net with memory checking turned on in a fraction of the time
I will however keep an eye on this as I am very intrigued to see what the problem is.
This is not over...