Further information to the above - looking in the event logs I found the following information:
AVSVideoConverter.exe
10.0.3.613
00000000
AVSH264Codec.dll
1.0.1.210
4d416617
c0000005
0000a4bd
10d4
01d376e0ca22989b
C:\Program Files (x86)\AVS4YOU\AVSVideoConverter\AVSVideoConverter.exe
C:\Program Files (x86)\Common Files\AVSMedia\ActiveX\AVSH264Codec.dll
a77b8704-0ff5-4c9f-bfcc-bea8adf04957
Prior to sending in this message I also tried deleting the complete AVS suite, rebooting and reinstalling, but it didn't help