[RadeonUser]

That rom should be fine the (M4) just means that it's a multilingual rom and has the option to switch between 4 languages.

I just finished testing out the E version and found the problem you're getting.

Unzip the file I've included into your Project 64 install directory and replace the current file that's there.
By default PJ64 is installed in C:\Program Files\Project64 1.6\

I haven't tested too far but it should no longer crash.