Did you download and install DirectX, or install it from the game install? One person got this error but avoided the problem if they skipped the DirectX install at the end of the game install, then rebooted and went through the configuration.

Try setting your desktop resolution to the same as the game resolution. Some people have had problems with DirectX's resolution switching, which this can work around, though I don't think those cases involved invalid page faults.

If you run dxdiag (click Start | Run, type in dxdiag and hit Enter), does it report any problems? There are a couple tests in the Display tab you can try.

Do you have any video filters installed? At least the ReClock DirectShow Filter needs to be disabled to play the game videos.
In Windows Explorer, if you browse to the '..\Beyond Divinity\Static' folder, can you view the 'intro.mpg' video? (other videos contain spoilers)