Haven't seen that before. Make sure you are running VC8 with SP1. It is very important, as both Mogre and Ogre are built with those. Next, make sure you have done the batch build, rebuild all. After that, you should be running debug build or running the installer to run the release build.
Some other things that might cause issues, make sure you have DirectX 9 installed. You can also try forcing the GL renderer instead, might have more luck. Make sure you actually have a decent GPU (embedded ones may likely crash with Ogre/Mogre). Besides that, I can't really think of what would cause this error.
