RecEnv.exe Application Error

I am running home-built, dual-boot machine (Windows 7 on HD#1, and XPSP3 on HD#2). I use the Windows Boot Manager to decide which OS to boot into, and Win 7 is the default. MOBO is an ASUSP8P67 Deluxe, CPU is the i5-2500K (overclocked to 4.0GHZ) and the RAM is G.Skill Ripjaws X Series 8GB (2x4GB) DDR3 SDRAM 1600 (PC3 12800). It has been stable for more than a year now with no worries.

I recently started getting random reboots while in Win7 while at my desktop with Winamp playing music, attempting to back-up some saved game files, and playing a game. The error message is: "RecEnv.exe - Application Error. The instruction at Oxfc647a47 referenced memory at Oxffffffff. The memory could not be read. Click OK to terminate the program."

I've tried to have the system fix itself on a reboot (the recommended option), as well as use the System Repair Disk and the System Disk, to load any missing files that may have been corrupted; but to no avail. I get the same error message. I can occasionally boot into Win7 normally and it is stable for a while, but it eventually reboots with the same error message. I can boot into XP and it appears to be stable.

I've read on other boards that this could a RAM issue. I ran the Win Memory Diag. Tool, and no issues were identified. I plan to test my ram using Memtest86. I occasionally get a BSOD with a reference to memory management and a message that new hardware/software may not have been installed properly.

This issue has also erased about a dozen restore points that I had set recently. The only two restore points still remaining are from about six months ago. I did a system backup to an external HD two weeks ago when it was stable - this may be my saving grace.

Any suggestions on how to fix this would be greatly appreciated, thanks.:)

Thanks for the response, I'll use Memtest86+ and see what that tells me.

I ran Memtest86+ and it told me that I have over 300,000 errors with my G.Skill RAM. Funny thing though, my system is stable when I boot into XP - any thoughts as to why this is?. I did some checking and found that the Corsair Vengeance RAM was specifically tested on my MOBO and CPU. I purchased 2 4GB sticks this RAM to resolve my issue; hopefully it'll work. :)

Win XP is 32-bit, and Win7 is 64-bit. Re my restore points, I posted here last year sometime with that issue, and I did other research, and I resolved that issue by making the two partitions (they're also on different HD's) independent. This has worked since then, I could set restore points in Win7, boot into XP, then go back to Win7 and the restore points were always there. Something happened recently to change that.

In addition, I was trying to fix a problem with a RecEnv.exe error when I went into the Advance Boot Options to Select Last Known Good Configuration per a thread that I found. I did this, and I couldn't connect to the Internet. I got the following message:

"MMLoadDrv:MMLoadDrv.exe - Entry Point Not Found The procedure entry point WaitNamedPipeA could not be located in the dynamic link library KERNEL32.dll."

I tried fixing this by inserting the System Repair disk, and the System OS disk, on a reboot. Now I can't even boot into Win7, but XP is still stable. Any thoughts? Thanks again.