Here's a thread that might help:
There appear to be some problems with some Windows Media presets.
Here's a thread about CS3 that seems to indicate the same thing:
I found these threads with this search.
BTW, I'm not saying that this is related to this problem, but note that 64-bit Windows XP is not one of the operating systems that we recommend for After Effects. Here is the system requirements page.
Solved, thanks to the help of Todd Kopriva.
Solution: Moving all "WMV*.vpr" presets to the desktop eliminated the crashing on choosing the "Windows Media" output module.
In my case, the problem files can be found here:
C:\Program Files (x86)\Adobe\Adobe After Effects CS4\Support Files\Plug-ins\Format\MediaIO\(presets)\system\en_us
Thank you for your assistance!
I had premiere cs4 crash on me because of those same files. I guess that what you get when you make flaky software rely on flaky software.