If it is what i think it is, it is getting stuck on an exception handler on vc8.. using obfuscated code with debug checks setting off a int 2d not exactly sure what does it yet but it is a nice little anti debug trick they are using causes system to be completely non responsive.. I personally would make a logger script to find exactly where then find a solution would be time consuming though..

if it is the int 2d causing the problem then cmp eip with that command and bypass it.. I would like to take a look im intrigued now