Probably the problem is in DirectX. Download the latest version here:
http://www.microsoft.com/directx/.
If it doesn’t help send us your system info (via my email button).
You can gather all system info through Start menu > Settings > Control Panel > if you have Windows XP click Switch to Classic View link on the left of the window > double-click DirectX icon (if you have old version of DirectX, icon can be absent) > click DxDiag button > click Save all info button > choose folder where you want to save > OK. After that open that folder and send us text file DxDiag.txt from it.
Also the cause of problem should be logged in one of My Pictures 3D log-files:
C:\Program Files\My Pictures 3D\My Pictures 3D Album\Bin\My Pictures 3D.log
C:\Program Files\My Pictures 3D\My Pictures 3D Album\Bin\My Pictures 3DIrr.log
Sent them us too.