BEX error c0000417 VC++ and MFC - visual-studio-2010

Question

I had access, via a friend, to a vc++ code which has MFC components with AxisMediaControl object to stream and record videos from an IP camera.
Now I am a complete novice in MFC and VC++. But I was going through the code as I know some C++ and was trying out if I could catch some MFC. It was probably a wrong choice starting with a complex application.
But nevertheless, in brief the application has three AFX threads running, one to read I/O from a hardware, One which implements some logic based on these I/O inputs and one which looks for any change in configuration of these I/O pins - It has a shared memory open and reads if there is any content in that shared memory and saves the content as a file.
Based on the I/O this application and the second thread mentions starts playing then records video from an IP camera.
When I run the application after compiling in VS2010, it runs as a standalone application as an exe for some random time and then I see a BEX error.
Log Name: Application Source: Application Error Date:
1/20/2015 1:50:59 PM Event ID: 1000 Task Category: (100) Level:
Error Keywords: Classic User: N/A Computer: ITSME
Description: Faulting application name: Video.exe, version: 1.0.0.1,
time stamp: 0x54bcf6f8 Faulting module name: Video.exe, version:
1.0.0.1, time stamp: 0x54bcf6f8 Exception code: 0xc0000417 Fault offset: 0x001256cd Faulting process id: 0x608 Faulting application
start time: 0x01d03489d809fe4d Faulting application path:
D\iRIDSClient\bin\Video.exe Faulting module path:
D\iRIDSClient\bin\Video.exe Report Id:
42d67f3f-a07d-11e4-8756-00306421c6e4 Event Xml:
1000
2
100
0x80000000000000
8427
Application
ITSME
Video.exe
1.0.0.1
54bcf6f8
Video.exe
1.0.0.1
54bcf6f8
c0000417
001256cd
608
01d03489d809fe4d
D:\iRIDSClient\bin\Video.exe
D:\iRIDSClient\bin\Video.exe
42d67f3f-a07d-11e4-8756-00306421c6e4 .
I got this from the windows event logger.
I am not pasting the code here as I wont be able to comprehend code related suggestions. Could anybody please give an idea on what situations can this error code occur. Where can I start to solve this error. I know this is unauthorized memory access error. But WHAT operation(s) could cause it? Please help.