Spud,
I assumed you out of memory error happened when you tried to load your log file using LOG.exe.
If this is the case then
I have just managed to recreate the same error message whilst trying to load a log file that I just created in PCHUD with the data cable disconnected.
So the " no data" idea in the log file seems quite likely.
Tomorrow i will have the chance to connect up to my bike and hopefully find out a bit more as to why you are getting this problem when connected.