Net Talk fails to run with a faked "Out of Memory" message

From the web page
http://www.ntalk.de/Nettalk/en/

"Nettalk is a powerful but easy to use free (open source) IRC-client for Windows. The smart user interface is based on Windows standards, so it is easy to get used to it. "

I have tried to run Nettalk 6.7.16 at r71956. It installs just fine, but it refuses to run with an "Out of Memory" message that that doesn't seem to correspond to the real situation, as you can see in my screenshot.

I'm submitting also a debug log.