I had the same problem,same error,same system amigo. 2x2.8 GHZ quad core intel ,14 gig ram,OS 10.5.8, logic 8.02, play 1.2.5.VE pro 4.0.4657
good news...I setup a new logic template but first setup play in my template and then introduced vepro and it fixed the problem. I have 3 ve pros loaded up and multiple play instruments now all working together on a single mac. note..the play plugs are in logic not VEPRO.
I have held back updating to logic 9 and snow leopard. play and vsl work on Logic 8 and 10.5.8 .suprised I could load up 10 gig of samples in 64bit mode in leopard 10.5.8. Love the preserve function. Don't have any non vsl au plugs available in 64bit server mode on VEPro though.Logic hosts the rest of my plugs.
One thing ...experiencing audio clicks when triggering vepro instruments.The clicks are not loud but noticeable enough.Doesn't click on one of the vepro instances that is set up for strings.play instruments in logic do not click including QL piano. The vsl celeste and wood winds seems to click the most . 2 threads set for each instance.cpu is only at around 10% when idle on the activity monitor and have 3 gig of ram to spare so the system aint pushed .logic core audio i/o buffer set to 1024 samples.built-in digital output goes to my protools system /G5 for monitoring hmmm