I could blame for that Microsft's DVT decoder which tends to decode H264 streams and fail.
You could check this by opening a file -> options -> filters and see which decoder it's used.
If I am wrong, try to swich the rendering method in video options.
If I am right, use another H264 decoder, such as ffdshow or CoreAVC.
PS: pressing "S" key enable-disable subtitles. Easyer than mouseclicks
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