Don't know if this helps at all, but this is what I see in my application log:

Log Name: Application
Source: Application Error
Date: 4/9/2011 4:44:01 PM
Event ID: 1000
Task Category: (100)
Level: Error
Keywords: Classic
User: N/A
Computer: Fohteeland
Description:
Faulting application name: Launcher.exe_Launcher, version: 1.0.0.0, time stamp: 0x4d6e3d08
Faulting module name: KERNELBASE.dll, version: 6.1.7600.16385, time stamp: 0x4a5bdbdf
Exception code: 0xe0434352
Fault offset: 0x0000b727
Faulting process id: 0x97c
Faulting application start time: 0x01cbf6f6db5d4916
Faulting application path: d:\program files (x86)\steam\steamapps\common\il-2 sturmovik cliffs of dover\Launcher.exe
Faulting module path: C:\Windows\syswow64\KERNELBASE.dll
Report Id: 19396f7c-62ea-11e0-bcfd-002618df6d13
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name="Application Error" />
<EventID Qualifiers="0">1000</EventID>
<Level>2</Level>
<Task>100</Task>
<Keywords>0x80000000000000</Keywords>
<TimeCreated SystemTime="2011-04-09T20:44:01.000000000Z" />
<EventRecordID>1891</EventRecordID>
<Channel>Application</Channel>
<Computer>Fohteeland</Computer>
<Security />
</System>
<EventData>
<Data>Launcher.exe_Launcher</Data>
<Data>1.0.0.0</Data>
<Data>4d6e3d08</Data>
<Data>KERNELBASE.dll</Data>
<Data>6.1.7600.16385</Data>
<Data>4a5bdbdf</Data>
<Data>e0434352</Data>
<Data>0000b727</Data>
<Data>97c</Data>
<Data>01cbf6f6db5d4916</Data>
<Data>d:\program files (x86)\steam\steamapps\common\il-2 sturmovik cliffs of dover\Launcher.exe</Data>
<Data>C:\Windows\syswow64\KERNELBASE.dll</Data>
<Data>19396f7c-62ea-11e0-bcfd-002618df6d13</Data>
</EventData>
</Event>

And:

Log Name: Application
Source: .NET Runtime
Date: 4/9/2011 4:44:01 PM
Event ID: 1026
Task Category: None
Level: Error
Keywords: Classic
User: N/A
Computer: Fohteeland
Description:
Application: Launcher.exe
Framework Version: v4.0.30319
Description: The process was terminated due to an unhandled exception.
Exception Info: System.IO.FileLoadException
Stack:
at eaTDGGiVSMTBXcIxSnE.QZHRGZiDUIQFBc3X8Pt.jMQP2qiVJ()
at maddox.Launch.gdBsT4sx8TDXBtoALM4()
at maddox.Launch.Program(System.String[])
at Launcher.Program.Main(System.String[])

Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
<System>
<Provider Name=".NET Runtime" />
<EventID Qualifiers="0">1026</EventID>
<Level>2</Level>
<Task>0</Task>
<Keywords>0x80000000000000</Keywords>
<TimeCreated SystemTime="2011-04-09T20:44:01.000000000Z" />
<EventRecordID>1890</EventRecordID>
<Channel>Application</Channel>
<Computer>Fohteeland</Computer>
<Security />
</System>
<EventData>
<Data>Application: Launcher.exe
Framework Version: v4.0.30319
Description: The process was terminated due to an unhandled exception.
Exception Info: System.IO.FileLoadException
Stack:
at eaTDGGiVSMTBXcIxSnE.QZHRGZiDUIQFBc3X8Pt.jMQP2qiVJ()
at maddox.Launch.gdBsT4sx8TDXBtoALM4()
at maddox.Launch.Program(System.String[])
at Launcher.Program.Main(System.String[])
</Data>
</EventData>
</Event>