Currently Being ModeratedFeb 17, 2012 2:00 PM (in response to jas0nyan)
Download the full itunes 10.5.3 installer and reinstall.
Reboot in Safe Mode (hold down shift after chime), to rebuild caches, reboot again.
If problems persist check /Applications/Utilities/Console note the time of the hang and see if any errors occur at that time.
And most importantly: Don't post your off-topic issue off in other threads.
Currently Being ModeratedFeb 17, 2012 2:19 PM (in response to jas0nyan)
Just as an FYI, that gray screen is usually the result of a process that is running a loop / can't stop. That's my layman's interpretation of the actual process at least. I believe there were a few issues when Lion came out with that happening for a number of different programs. Search in the general Lion thread for a thread that might be related. FWIW it used to happen to me but doesn't anymore, and all I could suggest is as above (try a full install of iTunes, not via upgrades).
Currently Being ModeratedFeb 24, 2012 12:35 PM (in response to jas0nyan)
I have the exact same problem with my 2011 Mac mini, but I’ve had it since I bought it (I believe it came with 10.7.2). One question for you: my iTunes Library file is in ~/Music, but the actual song files are on a NAS. How is yours set up?
Currently Being ModeratedFeb 24, 2012 12:43 PM (in response to jas0nyan)
Oooh… looks like the issue might be with Parallels 7 and Kaspersky Antivirus. Do you have those installed?
Currently Being ModeratedFeb 25, 2012 4:05 AM (in response to OtterWithPigs)
Parallels 7 and Kaspersky Antivirus? No.