I am having the same situation, same version of bsplayer (1.22 build 817) and running win xp sp2. I went ahead and took a screen shot of the error message so I didn't leave anything else. The wierdest part is that I can scoot the error off the screen and finishes watching the video without any problems and even use all the controls.
http://img182.echo.cx/my.php?image=untitled4wf.png 
of course the technical info is the same junk that is always in there.
Thanks for you time