The problem probably lies with the memory allocated for the virtual machine. At least in my experience, and my google-fu, this appears to still be the major reason behind such occurences. Oddly, it can be because there is too little memory, or even too much. I can't test this to see if this would work on your Mac, since I am a Linux geek too.
Still, if you use the run command dialog, you could use a similar command as the following:
"/home/your_username/.cxoffice/I3SClassicv4/dosdevices/c:/Program Files/Java/jre7/bin/javaw.exe" -Xmx512M -Xms256M -jar "c:/Program Files/I3SCLASSIC/I3SClassic.jar"
on your Mac I think that would be :
"/Library/CrossOver/XP/dosdevices/c:/Program Files/Java/jre7/bin/javaw.exe" -Xmx512M -Xms256M -jar "c:/Program Files/I3SCLASSIC/I3SClassic.jar"
I extrapolated the bottle name as being "XP" from the image you posted, so just be aware that "XP" in the later command should be your bottle name. Also, each commands are on one (1) single line, do not try to seperate them. There might be some ajustments depending on the name and location of your bottle. Being a Linux geek, this is the best I can do.
Anyway the two settings "-Xmx512M -Xms256M" are your maximum and minimum memory settings for the virtual machine. The "M" after the numbers is for megabites, and can be replace with "G" for gygabites. The apps does launch on my system with "-Xmx512M -Xms256M", so I suggest you try that first.
EDIT: Corrected some pasting errors, and for better clarity