I feel like it's a week for crashes and hangs, alas. Well, it's Friday!
The best advise is to Trash, Replace, Reset, or Restore the application Preferences: http://forums.adobe.com/thread/526990.
If you're lucky, that fixes everything.
Terminology: a crash is when the program actually detects a fault and exits. If you just get the beachball, that's a hang.
Hangs are more difficult to debug, but go to Activity Monitor, select InDesign, and choose Sample Process. Upload the output to pastebin.com and post a link here, and we'll tell you how to proceed.
Doing the Trash, Replace, Reset, Restore did not yeild any success - the application is still performing the same 'hang'.
Here is a link to the pastebin snippet: http://pastebin.com/nX1cH6tM
Yay, known problem, known fix!
See as Crash after Document SetUp.
Your problem is from SING, Smart INdependent Glyphlets, a font feature used in Asian typography. There are several possible solutions ranging from resetting the SING component to ultimately wholesale removing SING support from the program. Try them in the order given in the knowldege base article linked from the above post, and only if they don't work should you use the drastic method that the person asking in that post had to use.
Thank you for the amazing response time!
Your solution worked - thank you very much!