Check for corrupted or poorly-constructed fonts installed on your system. A free font manager like the ones listed here:
can help with that. I use FontFrenzy. Start troubleshooting by using your font manager to make a backup of your current font installation, then pick half of the fonts and delete them. Go into the Adobe apps and see if you still get the error. If not, then you know the problem font is in the half you deleted. Restore them and delete half again from just that group. And so on until you find the bad font(s).
Thank you so much; that fixed it.
It turns out I had installed type 1 fonts that were bad - I removed them all and the problem was solved.
You're welcome. Cooltype is kind of an old chestnut with Adobe apps. It's almost always bad fonts.