I've noticed that not only this mod, but any mod that loads textures that make the game use more than 3.5gb of memory, virtual or otherwise, it is going to crash with the run time error.
The simple problem is, this mod, and many others use too much memory with their textures.
All you can do is keep turn texture detail down to where the game looks like **** or wait for the developers to optimize their textures. If you enable load textures on demand, your battles lag so bad it is unplayable.
It doesn't matter how big your swap file is, because a 32 bit process can't allocate more than 3.5gb of memory, no matter what hardware you've got. I've got 32gb of ram in my machine. The game uses less than 3% of my CPU. I've got 8gb of video ram. I can watch it in process explorer. As soon as Perisno loads, and I enter a battle or a scene where the ram goes to 3.5, the very next action I take, bam, runtime error. That runtime error is most likely an unhandled exception coming back from a malloc or new in the engine code that throws because the process has exceeded its limit.