It sounds like your adobeowl.dll file is corrupt. Try
http://kb2.adobe.com/cps/402/kb402311.html.
Do you have "
PatchPanel" installed? If so, release 2 will create the problem you described.
Also, here's a thread that describes a very similar, perhaps the same problem, and a solution that worked for a lot of people:
http://forums.adobe.com/thread/372518?start=0&tstart=0. Specifically, the solution (kind of a workaround) was changing the default printer. Anders Ljungh wrote, "OK, I found the problem: My default printer. If I use my Gestetner MP 4500 as default photoshop crashes when I open two files at the same time. Istalling a PS printer driver instead of a PCL6 solved the problem. Other printers using PCL6 work no problem."
I hope this helps.