I agree with your assessment that a driver may be the cause of the “crash”,
refer the Bug Check Code 0x7f article:
       
http://msdn2.microsoft.com/en-gb/library/ms795478.aspx.
   
Given:
- The Notebook uses the original Intel Video Controller
- The Projector is supported by the Controller (the Sony VAIO Notebook Users
Guide of course indicate a projector such as the Sony LCD Projector being
used!) and the XP (as installed)
- A driver had to be installed together with the Projector – in accordance
with the manual that came with the device

is most likely the Projector (the hardware) or its driver causing the problem.

Check for any yellow exclamation marks: Go Start\Run, type devmgmt.msc and
click OK.

Uninstall and reinstall the driver, when such was installed.

You might install the Projector on another PC to see if it works, or another
Projector on the Notebook.

Presumably do you connect the Projector (“the external display”) before you
turn on the Notebook, in accordance with the Notebook Users Guide.

Regards,
Ka2h