This consistently happens using the new H.265 codec with both GPU acceleration and software rendering options:
Problem signature:
Problem Event Name: APPCRASH
Application Name: Adobe Media Encoder.exe
Application Version: 9.1.0.163
Application Timestamp: 564db283
Fault Module Name: mc_enc_hevc.dll
Fault Module Version: 6.0.14.2170
Fault Module Timestamp: 55f6440e
Exception Code: c000001d
Exception Offset: 00000000000441aa
OS Version: 6.1.7601.2.1.0.768.3
Locale ID: 1033
Additional Information 1: 3f50
Additional Information 2: 3f50e0622c4f23f4b9e7373d802ab461
Additional Information 3: 96b8
Additional Information 4: 96b818360458bd642364737659d529ec
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I am on a Windows 7 machine with 16GB ram.