I too have this issue. The X offset value for the Layer 1 Map is the culprit on this machine. Everytime I click the options link to tweak something in the time line, that value increments a value of +1.
If I try to reset that value, or click on it … I get the same thing, After Effects claims it is out of memory and proceeds to crash.
I can assign image/movies etc to Layer Maps 2 and above… but I have to stay clear of Layer Map 1 or crash city.
Gregg