Mine finally worked! Again no more crashes. I thought I had it worked out but Acid Pro had started to crash again a week ago for me.
My solution: even though Melodyne never worked within Acid for me, I just removed it completely out of the PC and Acid seems to be back on track. So, according to my own troubleshooting, avoid the following:
Do not use the following: Magix plugins, synths, Melodyne (try uninstalling it completely), side chaining, morph pads, dark GUI theme (use light) & if the crash still persists, try disabling windows firewall.
All my other issues still remain but I can deal with them (No MP3 support and GUI lags when zoomed in).
Hope above will help someone out.