Constant FCP v7 crashes. Need help deciphering error codes

Workflow has crawled to a halt today with several FCP crashes. Below is the error message. Running a MacPro w/dual Xeon procs, 16GB RAM, Snow Leopard.

I've done the basics such as deleting FCP prefs, zapping PRAM, verifying disks/repairing permissions, performing an FS check and discarding render files.

Anyone have some ideas on a fix? Reinstalling the app is next on the list but I'm hoping to avoid that.

Process: Final Cut Pro [2516]

Path: /Applications/Final Cut Pro.app/Contents/MacOS/Final Cut Pro

Identifier: com.apple.FinalCutPro

Version: 7.0.3 (7.0.3)

Build Info: FCPApp-1008261348~8

Code Type: X86 (Native)

Parent Process: launchd [981]

Date/Time: 2011-11-09 14:47:06.134 -0800

OS Version: Mac OS X 10.6.8 (10K549)

Report Version: 6

Interval Since Last Report: 394481 sec

Crashes Since Last Report: 5

Per-App Interval Since Last Report: 213368 sec

Per-App Crashes Since Last Report: 1

Anonymous UUID: 7F1F86B7-A54B-4056-AA47-1DC94799E0F1

Exception Type: EXC_BAD_ACCESS (SIGBUS) Exception Codes: KERN_PROTECTION_FAILURE at0x0000000000344cfc Crashed Thread: 0 Dispatch queue: com.apple.main-thread

Thread 0 Crashed: Dispatch queue: com.apple.main-thread

0 com.apple.QD 0x938b6bf8 SetPixMapPixel + 208