Software Render Error - A Low level exception occured

Having problems processing my most recent project. After searching the forum i noticed nobody else has posted about a low level exception error code 512. Im having all sorts of problems with two illustrations which were imported into my project as a .png file.
 
Depending on whos governing my session, i'll be able to see the illustrations in my personal project. Other times i've reported to adobe about the .png file only showing a black screen or media pending screen.
Yesterday I spent a couple hours learning how to better edit the audio in my project. After I figured out how to edit the wind out by changing the high pass frequency. Its like Somebody is pushing a button to block the audio clip I just edited. If I didn't know better I would think something was wrong with the clip but I know better.

I own all the content in my project and or have creative commons attributes on the music. Can anybody help me out on here? I've tried copying my sequence into a new sequence..

Adobe premier pro all of a sudden starting using 49GB of memory on my computer and I had to shut her down. Is there anybody who can help me in this scenerio?

Devin