Hi Calvin,
Thanks for posting!
I've had a look through the bug report you sent through, and it appears like an initialisation problem of some kind. Are you able to let me know which version of Visual Studio you are using?
Also, does the problem occur if you open your solution directly from Windows Explorer (i.e. by double-clicking the .sln).
Considering the high level of memory you have available for your system, the out of memory error may relate to the build process exceeding the 32-bit memory limit. Are you using any custom build tools, scripts, steps, frameworks, SDKs or templates that may be considered out of the ordinary?
Cheers,
Remco