> which typically means it's a bug where the program accidentally is trying to read outside of its memory space.

I tracked this down with process explorer the other day. What I determined is that outlook is trying to load it's DLLs but the permissions on the FS prevent the DLLs from being read by the user.

I reset the permissions for all subfolders in C:\Program Data\Microsoft Common and c:\Program Files\Microsoft\Office and it started working again for me.