Sounds like Windows is running out of graphics resources. I searched for your error over at EQLive and they suggest the following (which seems to have worked for some people, judging by the replies):

1) Make sure your motherboard drivers are up to date.
2) End task on all background programs and goto Trend Micro's Site and click on SCAN NOW and run a complete scan on your entire pc.
3) Windows Updates from www.Microsoft.com
4) Reinstall DirectX
5) Reinstall your Video Card Driver

Might be worth upgrading/downgrading your video card driver first.