I'm getting the same error. The error dialog comes up three times, twice for the program and one in kernel32.dll. The program will work fine the first time but after that it won't.
I have a few programs that exclusively use winpcap and they work fine: wmrecorder and two packetanaylizers. I'm not able to find the problem but from the errors I had received I'm thinking maybe the program may not be totally 98 compatible. Ususally you would get an error about a missing export or entry point but not in this case, which would indicate a possible incompatibility with OS's.
I'm on 98 and don't prefer to switch although the highest I will go is win 2000. I am comfortable with 98 and I don't have as many problems as a lot of people have, I know my sysytem like the back of my hand. For what I do, 98 works for me and it's small, fast and stable for me. I don't like XP, home or pro, at all.
If I can find anything related to this problem I'll post back. In situations like these type of errors, usually it is a compatibility issue of some form.