Here is a solution that Shtormovik came up with:
"
After some additional reaserch I have some conclusions about the reason the problem appears.
1) This happens to users with X-Fi ExtremeGamer (and i suppose other X-Fi sound cards)
This is becouse X-Fi has override over openAL in order to things work, while game installation of openAL overwrites those files or just goes into conflict
What should be done:
2) a) If X-Fi is your primary card - install:
http://forums.guru3d.com/showthread.php?t=352964
It will install appropriate openAL override for you and everything will be good
b) If you had X-Fi sound card in previous and now dont have: you still have parts of override in your system
And new installation of openAL just ruins everything evermore
I did not find way to fix this issue. The only way is to p ut back X-Fi card and install support pack OR reinstall windows, so no X-Fi alchemy(openAL override) will be in your system
I suppose developers should investigate this case and add some special ebhaviour for X-FI users(for example -> dont install openAL automaticaly if you do)
If you don't have a Creative sound card, you should also try updating your other drivers - Path of Exile can't cause a BSOD, but it can activate a part of your hardware that isn't usually used that may cause one.