The v3.5 renderer powering the Cool VL Viewer v1.26.6/7 is known to have issues with Intel-HD graphics (which I'd hardly consider suitable for *any* modern OpenGL game... See
Tom's Hardware Guide latest hierarchy chart for GPUs, and see how low the HD4000 is ranked: at the level of an old NVIDIA 7600 GT, but even the latter would perform better thanks to much more compliant OpenGL drivers than Intel's).
One of the known issues is that there's a bug in Intel's drivers that makes them leak memory like crazy, which is probably the cause of your crashes.
You should rather use the Cool VL Viewer v1.26.4 which uses the "old" v2.6 renderer that doesn't trigger that memory leak bug and that will also run 15-20% faster than v1.26.6/7 on old/low end hardware...
For anyone reading this and considering the buying of a new computer or graphics card, the best choice for SL (and any OpenGL game) is NVIDIA (ATI's OpenGL drivers also have many issues, though much less than Intel's, and ATI doesn't provide up to date drivers for its "legacy" (read: two years old or older) hardware, when NVIDIA keeps publishing updated drivers even for its oldest cards).
PS: new releases to be published in the coming hour or so: you should pick those.