It seems like an engine crash while trying to spawn a decal, there's really nothing I can do to fix it.
Decals in this engine are a bit unstable, and NW3 uses a lot of decals, especially for the gore addon, as well as all the debris effects it has.
How often does that crash happen to you? Or was it just once?
You can avoid that specific crash entirely by disabling decals, but then you won't be able to see any decals whatsoever, as well blood marks from the gore, and even the debris themselves.
However, if it only happened once maybe after hours of gameplay, it might not be worth it to disable it, but it's up to you.