I don't think it's strictly Vista-related, but there are definitely some issues with system libraries(audio/video drivers?) and MBAC.
If it's in any way related to my MBCaster issues, particularly the one where it bombs for some people and can't get it to work at all... Basically there's some memory corruption going on in the DLLs that sometimes isn't caught. MBCaster runs it in debug mode which rearranges memory somewhat and, consequently, brings those bugs to bear.(MBCaster itself isn't causing the problems, I can remove everything that MBCaster does except launch the app in debug mode, and it still blows up) Some people might have systems where it happens outside of that anyway. It's yet another Windows compatibility issue. I'm not sure what the workaround is as I have no idea what in particular is causing it to die at this time.
Unfortunately you'll need a more in-depth scan with a debugger, for the stack information, if you want to know what's causing this.
Edit: I should note that SWR has similar problems, but IaMP does not, so it's almost certainly driver or memory related.