I'd be surprised if it actually needed any MS updates to run properly. Has it ever run properly? (How about if the camera is unplugged.) If so try running a system restore to a point in time just before the problem started.

If that doesn't help then you could try reinstalling the firewire drivers although if the program closes even without the camera attached that probably wont' help (wouldn't hurt to eliminate that as a possibility and do it anyway).

Also worth trying is an sfc/scannow in case any MS system files are corrupted and causing a problem.

http://www.updatexp.com/scannow-sfc.html