I would like to thank everyone that submitted their dxdiag logs that had the crashes when any type of sound effects would try to play. Thanks to Surtr too! b:victory
Solutions are to uninstall, reinstall, or install sound card/sound chip drivers. People that had this issue, when we checked their dxdiag logs, they didn't have sound drivers installed.
Check with your system manufacturer's support website, or sound card manufacturer for the latest drivers.
The bug has been reported, it has been confirmed by us, and hopefully it'll be addressed in a future patch soon.
My guess is that the audio is used differently in this patch, and requires direct sound chip calls instead of relying on Windows/DirectX for the assist.
Another solution that has worked for some players is to plug in headphones or similar audio device to your headphone jack on your PC/soundcard.