If you did the things in my previous post I'd suggest you to run updates for your system since I doubt it's the game.
If you know for certain that you got a working "game" installer(not patch) that is working, and you installed it all clean removing the old version of FH, it's not the game.
As mentioned the game did go through some updates of the ogre engine it's running, which most likely means the game itself need more current versions of other software it uses.
If you download the game setup(not the patch) it should give you a directX setup directly after FH. DirectX is one of the components needed to play this game, and if you don't have it or run a butt old version of it, the game might not work at all. Though how well this directX installer work I don't know.
There's another thing that most likely needs an update too, and it's the Microsoft visual C++ Redistributable updated to a later, if not the latest version you can find.
The event viewer also mentions something about C++ Libraries so it might be something there.
If you run Windows Vista, or Windows 7, auto updater should take care of this just fine and update your system to the latest versions, but maybe you even got it turned off, and it that case you MUST go into your control panel and check for windows updates. Windows updates lay somewhere in the "Security tab" of it, or just called "Windows updates" if you have classic mode turned on. Scan for updates, and install the Important ones, restart the computer, and try the game again.
If you do not have windows update, or maybe run XP computer it might not update this? I'm not sure actually cause I don't use that OS anymore.
Only try this if you do not have C++ on your system(You can easily check if you have a recent version from around atleast 2010 installed in your program and features tab where you remove programs.
For 32 bit windows OS
http://www.microsoft.com/download/en/details.aspx?id=5555For 64 bit windows OS
http://www.microsoft.com/download/en/details.aspx?id=14632Make sure you pick the right one used for your system since it matters, ask someone that knows which one you use if you do not know. Otherwise I should be able to help you somehow.
Here's DirectX download
http://www.microsoft.com/download/en/details.aspx?id=8109If you couldn't run windows updates, C++ update didn't cut it, download that aswell and run the installer and make sure you restart your system after it's done.
If that doesn't cut it either, just try to update your Graphic card drivers as well. And if it still doesn't work, I simply cannot help you. I know this did the trick for other users though, and all along they had an outdated system because they didn't take care of it, something that's expected since the mods here are far from a PC clinic.