Wings 3D 1.5.3. crashes when editing preferences

[micheus]

Is there any dump file? (use Windows Explorer and try to find any *.dump file (would be for Wings or Erlang))

Also, would you try to install it again and force the installer install the Microsoft DLL's ?

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You can try to force Erlang to show up it's console window by running the command as dgud suggested in this other post.
It's a good idea to use the same path for "-extra" parameter too (just for now).