The only thing that I haven't tried is a complete reformat. Luckily, backing the files on there wouldn't be much of an of an issue; trying another HDD would be, as I currently don't have the funds to test another one. It could be the hard drive yes, but I hope that it's not; Western Digital HDD's are supposed to be one of the better brands (if I got a Toshiba or Seagate, I could see stability being an issue).
It's frustrating to be sure, as this is the only program that seems to randomly lock up, which boggles the mind. Not only that, but I can't get it to generate the information that will be the key to solving this mystery; the code dump/DSI Exception error information. I can get the test ELF to crash, but I can't get it to display the code dump. This is where it all began and now I'm at a standstill when it comes to solving this issue.