Same issue for me except it was happening before the update too. I think on version 1.2.4 too. I uninstalled today and downloaded latest version and reinstalled.. Got the error so I tired lowing all settings to LOW. I'm currently downloading the latest patch. This is first time I've tried to play the game.
Windows 7 32 bit
Intel Q8200
4GB RAM
AMD HD6950 - latest drivers installed today.
# -------------- 20130813-015907 --------------
d:\Program Files\Eagle Dynamics\DCS World\bin\ZweiBlau.dll
# C0000005 ACCESS_VIOLATION at 77F22D99 01:00001D99
#
# EAX = 00000000
# EBX = 6849E0A0
# ECX = 6849E0A0
# EDX = 73ABFEE8
# ESI = 67F49F50
# EDI = 00000008
# CS:EIP = 001B:77F22D99
# SS:ESP = 0023:0092F024 EBP = 0092F148
# DS = 0023 ES = 0023 FS = 003B GS = 0000
# Flags = 00010206