This has occured on multiple computers (Win 7, Win 8, 32 bit, 64 bit (using 32-bit vlc)) Version 2.05 and Version 2.06 (and I even tried Version 2.1)
Basically, if I set my system up to run quickly through videos, start them, and then stop them after a couple of seconds (going for the quick kill for testing), eventually libvlc will not return from a call to libvlc_media_player_stop (or libvlc_media_list_player_stop). This has occured in multiple codecs (H264, WMV2, WMV1) in my testing. The media state is 3 when stop is called. If I omit the stop call, and just release the player and libraries, an error will still occur (presumably there's an automatic stop being called then.)
As an aside, when I had the video duration down at 1 second, I did notice that once the media state was 1 when stop was called, and I got the MSVCRT error message about unusual termination.