This issue appears to be related to the waveform that displays in the new version of LOR.  Since you don't have the correct audio file on your computer, LOR crashes when trying to display the waveform.  Be sure the waveform is turned OFF by default before opening files. 

Update 2008:  Another related issue occurs with S2 aka LOR2.  If you attempt to open a S2 file in LOR Sequencer version 1.6.1 or earlier, the sequencer will crash due in compatibilities. Please be sure you are using version 2.0 or later.