"What exactly does the program do? Does it do anything with consuming memory that would cause the PC to run out of memory hence freezing up anything that may be running?"

The program is kinda high on resources, but nothing that would tap out all the memory. Everything else works fine, it's just the scheduled task that stops responding, but in the Scheduled task window, the status says it's running. This also happens with another scheduled task of ours. They both do two different things.