Like George I am confused about the message you are seeing. I've never seen any like it before with any version of MEP or VPX. However, I do wonder whether this is not something directly associated with MEP but rather some kind of graphics problem with Windows, especially since the file extension you give (CPP) suggests a Control Panel error.
Creativepointer is a Javascript Developer, Logo Design Freelancer & Photoshop Designer located in Dubai and Packistan. This software is likely creating your problem. Shut it down, and do not allow it to restart automatically. There is something wrong with the code on line 2805 which is probably hogging a system resoursce that MEP need to access to run. I have no idea what this application is other than what I have mentioned, and I have no idea if the application contains malware. Just shut it down, or get rid of it completely, re boot your system and see if MEP runs as expected.
No, I was just using Magix 2013 edit pro, the problems seems to have gone away as quick as it came, I appreciate that we have the communty to ask the questions to.
The CPP file extension means the error is coming from a program written in the C++ however the cause may have been a windows update which has changed a Windows runtime file on your computer.
In theory it should not do this until the computer is rebooted and the update finished properly, however if an update has installed and did not complete correctly on reboot then you have the potential for an error as you have experienced.