Dxgmms1.sys BSOD... What should I do?

Hi Extr3me Rob and welcome to SF! :)
Update DirectX. If BSODs persist, follow Blue Screen of Death (BSOD) Posting Instructions guidelines.
Let us know the results.

Code:

Loaded symbol image file: dxgmms1.sys
    Mapped memory image file: c:\symbols\dxgmms1.sys\4CE799C146000\dxgmms1.sys
    Image path: \SystemRoot\System32\drivers\dxgmms1.sys
    Image name: dxgmms1.sys
    Timestamp:        Sat Nov 20 07:49:53 2010 (4CE799C1)
    CheckSum:         00047A89
    ImageSize:        00046000
    File version:     6.1.7601.17514
    Product version:  6.1.7601.17514
    File flags:       0 (Mask 3F)
    File OS:          40004 NT Win32
    File type:        3.7 Driver
    File date:        00000000.00000000
    Translations:     0409.04b0
    CompanyName:      Microsoft Corporation
    ProductName:      Microsoft® Windows® Operating System
    InternalName:     dxgmms1.sys
    OriginalFilename: dxgmms1.sys
    ProductVersion:   6.1.7601.17514
    FileVersion:      6.1.7601.17514 (win7sp1_rtm.101119-1850)
    FileDescription:  DirectX Graphics MMS
    LegalCopyright:   © Microsoft Corporation. All rights reserved.

I'd reinstall video driver ( AMD Catalyst 11.5; 11.6 may cause BSOD in some systems ). When upgrading your graphic driver you MUST remove all traces of the current driver. In order to do that we recommend using Phyxion.net - Driver Sweeper. When it is removed then download and install the fresh copy.

Code:

Windows 7 Kernel Version 7601 (Service Pack 1) MP (8 procs) Free x64
Product: WinNt, suite: TerminalServer SingleUserTS Personal
Built by: 7601.17592.amd64fre.win7sp1_gdr.110408-1631
Machine Name:
Kernel base = 0xfffff800`03014000 PsLoadedModuleList = 0xfffff800`03259650
Debug session time: Mon Jun 13 18:25:55.782 2011 (UTC - 3:00)
System Uptime: 0 days 0:45:30.547
Loading Kernel Symbols
...............................................................
................................................................
...........................................
Loading User Symbols
Loading unloaded module list
......
*******************************************************************************
*                                                                             *
*                        Bugcheck Analysis                                    *
*                                                                             *
*******************************************************************************

Use !analyze -v to get detailed debugging information.

BugCheck 10E, {1f, fffff8a00fa77760, 7, 1b9913}

Probably caused by : dxgmms1.sys ( dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+148 )

Followup: MachineOwner
---------

7: kd> !analyze -v
*******************************************************************************
*                                                                             *
*                        Bugcheck Analysis                                    *
*                                                                             *
*******************************************************************************

VIDEO_MEMORY_MANAGEMENT_INTERNAL (10e)
The video memory manager encountered a condition that it can't recover from. By crashing,
the video memory manager is attempting to get enough information into the minidump such that
somebody can pinpoint what lead to this condition.
Arguments:
Arg1: 000000000000001f, The subtype of the bugcheck:
Arg2: fffff8a00fa77760
Arg3: 0000000000000007
Arg4: 00000000001b9913

Debugging Details:
------------------


BUGCHECK_STR:  0x10e_1f

CUSTOMER_CRASH_COUNT:  1

DEFAULT_BUCKET_ID:  VISTA_DRIVER_FAULT

PROCESS_NAME:  System

CURRENT_IRQL:  0

LAST_CONTROL_TRANSFER:  from fffff88001bef22f to fffff80003093d00

STACK_TEXT:  
fffff880`079e5738 fffff880`01bef22f : 00000000`0000010e 00000000`0000001f fffff8a0`0fa77760 00000000`00000007 : nt!KeBugCheckEx
fffff880`079e5740 fffff880`05dca098 : fffff8a0`0fa77760 fffff8a0`0fa77760 00000000`001b9913 00000000`00000007 : watchdog!WdLogEvent5+0x11b
fffff880`079e5790 fffff880`05dc78af : 00000000`00000000 fffffa80`072b1850 00000000`00000c3a fffffa80`072b38f8 : dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+0x148
fffff880`079e57d0 fffff880`05de165d : 00000000`00000000 fffff8a0`0ab7e1e0 fffffa80`00000007 fffffa80`072b0ba0 : dxgmms1!VIDMM_GLOBAL::PrepareDmaBuffer+0xe1b
fffff880`079e59a0 fffff880`05de1398 : fffff880`009ef040 fffff880`05de0d00 fffffa80`00000000 fffffa80`00000000 : dxgmms1!VidSchiSubmitRenderCommand+0x241
fffff880`079e5b90 fffff880`05de0e96 : 00000000`00000000 fffffa80`06efe2c0 00000000`00000080 fffffa80`09690410 : dxgmms1!VidSchiSubmitQueueCommand+0x50
fffff880`079e5bc0 fffff800`0333032e : 00000000`0225eb14 fffffa80`094528c0 fffffa80`06c92b30 fffffa80`094528c0 : dxgmms1!VidSchiWorkerThread+0xd6
fffff880`079e5c00 fffff800`03085666 : fffff880`009ea180 fffffa80`094528c0 fffff880`009f50c0 fffff880`01418384 : nt!PspSystemThreadStartup+0x5a
fffff880`079e5c40 00000000`00000000 : 00000000`00000000 00000000`00000000 00000000`00000000 00000000`00000000 : nt!KiStartSystemThread+0x16


STACK_COMMAND:  kb

FOLLOWUP_IP: 
dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+148
fffff880`05dca098 c7442450c5f3ffff mov     dword ptr [rsp+50h],0FFFFF3C5h

SYMBOL_STACK_INDEX:  2

SYMBOL_NAME:  dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+148

FOLLOWUP_NAME:  MachineOwner

MODULE_NAME: dxgmms1

IMAGE_NAME:  dxgmms1.sys

DEBUG_FLR_IMAGE_TIMESTAMP:  4ce799c1

FAILURE_BUCKET_ID:  X64_0x10e_1f_dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+148

BUCKET_ID:  X64_0x10e_1f_dxgmms1!VIDMM_GLOBAL::ReferenceAllocationForSubmission+148

Followup: MachineOwner

Extr3me Rob said:

Cool... I will give it a go. If it's just a driver issue and not down to some form of instability then its not as bad as I thought it would be.

Many thanks for your time Wallonn7!

You're welcome. :)
Additionally:

1. Download Malwarebytes - rename it to "toy.exe" before save it to desktop. Install it, update it and run a full scan.
2. Uninstall Daemon Tools... You may use MagicDisc as an alternative: Freeware MagicISO Virtual CD/DVD-ROM(MagicDisc) Overview.
3. Remove "C:\Program Files (x86)\DeviceVM\Browser Configuration Utility\BCU.exe" if Malwarebytes didn't.

Please keep reporting.

Extr3me Rob said:

So far so good... Can I ask, why should I change from Daemon Tools and why should I delete BCU.exe?

Many thanks again for your time.

Daemon Tools driver is often listed as one of the causes of BSODs.
BCU is generally safe, But... In all, do you really need this type of software sucking your system resources?
Glad to hear your system is stable!
If you need some help, "call" Seven Forums again!