Well, it is...the program is 32-bit and can only address a little less than 4 gig of RAM. I get these errors all the time on high poly figures. I have found that hiding everything in the scene that isn't necessary to the simulation from the hierarchy panel clears it up a lot of the time. The script seems to gather object info even before you designate collider and cloth objects or something. Not sure why it works, but it does a lot of the time.