Photoshop CS5.1 Closes when I open a new file

Question

I open Photoshop, everything starts up fine, I click File>Open or File>New, nothing happens for a moment or two, then It says Adobe Photoshop CS5.1 has stopped working. I'm running Windows 7. I searched around and I think this would be the information about the error. All help is appreciated.
Log Name:      Application
Source:        Application Error
Date:          6/28/2011 12:39:03 PM
Event ID:      1000
Task Category: (100)
Level:         Error
Keywords:      Classic
User:          N/A
Computer:      j-PC
Description:
Faulting application name: Photoshop.exe, version: 12.1.0.0, time stamp: 0x4d90d339
Faulting module name: nvoglv64.DLL, version: 8.17.12.5896, time stamp: 0x4c378ebb
Exception code: 0xc0000005
Fault offset: 0x00000000007506ce
Faulting process id: 0xfd8
Faulting application start time: 0x01cc35b1cb554594
Faulting application path: C:\Program Files\Adobe\Adobe Photoshop CS5.1 (64 Bit)\Photoshop.exe
Faulting module path: C:\Windows\system32\nvoglv64.DLL
Report Id: 21711804-a1a5-11e0-aa9b-4487fc768a1b
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Application Error" />
    <EventID Qualifiers="0">1000</EventID>
    <Level>2</Level>
    <Task>100</Task>
    <Keywords>0x80000000000000</Keywords>
    <TimeCreated SystemTime="2011-06-28T16:39:03.000000000Z" />
    <EventRecordID>6535</EventRecordID>
    <Channel>Application</Channel>
    <Computer>j-PC</Computer>
    <Security />
  </System>
  <EventData>
    <Data>Photoshop.exe</Data>
    <Data>12.1.0.0</Data>
    <Data>4d90d339</Data>
    <Data>nvoglv64.DLL</Data>
    <Data>8.17.12.5896</Data>
    <Data>4c378ebb</Data>
    <Data>c0000005</Data>
    <Data>00000000007506ce</Data>
    <Data>fd8</Data>
    <Data>01cc35b1cb554594</Data>
    <Data>C:\Program Files\Adobe\Adobe Photoshop CS5.1 (64 Bit)\Photoshop.exe</Data>
    <Data>C:\Windows\system32\nvoglv64.DLL</Data>
    <Data>21711804-a1a5-11e0-aa9b-4487fc768a1b</Data>
  </EventData>
</Event>

Answer 1

If visiting nVidia.com and downloading the latest driver for your hardware doesn't yield results, try Edit - Preferences - Performance, then uncheck [ ] Enable OpenGL Drawing, then restart Photoshop.
-Noel