Just weighing in... same problem. I created one Melodyne region.... second one causes a crash. Here's a snippet of the Windows event log:
Faulting application name: SONARPLT.exe, version: 21.13.0.32, time stamp: 0x56c1f66a
Faulting module name: MelodyneCore-4.0.4.004.dll, version: 4.0.4.4, time stamp: 0x56f43463
Exception code: 0xc0000005
I'm going to try rendering the first region and try again. I'll report on what happens.