bluescreen on Windows 7 when starting Flash Media Encoder

I have a 100% reproducible BSOD when starting Adobe Flash Media Live Encoder on Windows 7:

Technical information:

*** STOP: 0x00000116 (0x84C65008, 0x89E1AF20, 0xC00000B5, 0x0000000A)

*** igdkmd32.sys - Address 89E1AF20 base at 89E09000, DateStamp 4ad79fb5

The probem can be attributed to Intel graphics - so far, I reproduced it on Asus Eee PC 1005P (Intel GMA 3100) and Samsung N130 (Intel GMA 950).

I already tried different driver vesions to no avail.

Anyone seeing a similar issue when starting Adobe Flash Media Live Encoder on Windows 7 with Intel graphics? Any workarounds?