System Crash Screen after Mountain Lion Installation

Question

I tried to install Mountain Lion on 2 different MacBook Pro Laptops, one newer 15" running latest version of OSX Lion and the other a 13" running latest updated OS as well.  I can download the software, it goes through download, starts the app, I get the app started on the install and then let it do it's thing, when I return to check on it I get a screen full of numbers and text with the error message that states you have to press and hold power to turn off.  The same kind of screen you get when your system crashes and can't run. 
Not sure if it's when it's trying to reboot or if its when the OS is installing.  I run little snitch and gave the app full access on all ports to the Internet, but not sure.  The 13" MP wasn't connected to anything except a LAN cable, no external monitor or keyboard or even a mouse.  Just the laptop itself.
The 15" is connected to display, keyboard, mouse and an external hard drive.
The only way I was able to fix, was to reboot using Command R to get into recovery mode and restore from backup using Time Machine worked perfectly fortunately.
Any ideas on why it wouldn't install? or how to fix?
I even made sure to close down all applications first prior to installing. 
The only thing I didn't do was to disable Time Machine, not sure if it tried to kick off during the installation and that made it crash or not?

Answer 1

I disabled Time Machine and tried it again.  This time I watched it.  It ran the first part of the application and then rebooted.  When it rebooted it came up with the following text screen with the window to reboot hold down power button:
[pani(cpu 1 caller 0xffffff8000540a4f): "Process 1 exec of /sbin/launched failed, errno 2"@/SourceCache/xnu/xnu-1699.26.8/bsd/kern/kern.exe.c:3546
Debugger called <panic>
Backtrace (CPU 1), Frame : Return Address
0xffffff8078023e00 : 0xffffff8000220792
0xffffff8078023e80 : 0xffffff8000540a4f
0xffffff8078023ee0 : 0xffffff80005268d0
0xffffff8078023f10  : 0xffffff80005528f9
0xffffff8078023f50  : 0xffffff800021e143
0xffffff8078023f90  : 0xffffff80002c3d3a
0xffffff8078023fb0  : 0xffffff80002da09c
BSD process name corresponding to current thread: init
Boot args: config="\OS X Install Data\com.apple.Boot"
Mac OS version:
Not yet set
Kernel version:
Darwin Kernel Version 11.4.0: Mon Apr 9 19:32:15 PM
Kernel UUID: A8ED611D-FB0F-3279-8392-E7A32C5E7D74
Sytem model name: MacBookPro5,5 (Mac-F2268AC8)
System Uptime in nanoseconds: 2087061014
Error message window: You need to restart your computer.  Hold down the Power button until it turns off, then press the Power button again.