I think you may be on to something. I've heard reports of Windows Defender flagging some of the binaries as malware. GIFSQUID uses FFmpeg and imagemagick (convert.exe) so double check those files still exist in the Gifsquid/bin folder
Update: With Windows Defender disabled, I get the crash error, but at least the file gets added to the render queue - then I get spinning beachball of death and no rendering. Still no log file or anything. =(
I did previously copy all files from the zip files into the directory just to make sure.