THIS, is the type of things I get for most effects, such as fire, and lots of other things…
most recent crash minidump: here
Minidump crash reason (quoted):
Exception Information | The thread tried to read from or write to a virtual address for which it does not have the appropriate access.
In other words: Try running Steam as Administrator, or lift the rights of your useraccount to Administrator status.
As for the spiderwebs aka wireframes around the smoke (particles) - I don’t have any idea, sorry. 
I known that this is not the first post you do but I hadn’t been able to find your system and hardware specs easily in any of the posts you done before. So could you please follow the reporting guidelines and provide details on the hardware and software you have? CPU/GPU, amount of RAM and VRAM, OS type, OS “bits”, version of the GPU driver and so on.
From what I could tell looking at your screenshots you either have the engine using dxlevel 80 or 81 renderpath (then you should switch into using at least dxlevel 90) or your videocard isn’t capable (or driver isn’t fresh enough) to properly support Direct3D 9 API which is used by BM.
You could read on how to change dxlevel renderpath in FAQ Question 6.
It’s not about access rights related to Administrator and UAC, it’s a about game trying to access a memory page that isn’t mapped in the virtual space of the process. Or trying to perform a write to a page which is marked as read only. Or trying to map a page having simultaneously set execute and write attributes on a CPU with PAE and no-execute protection enabled. And so on. Running it as Admin shouldn’t change anything for this case.
I thought it could be something else (something more complex than just lifting your privileges), just as I re-read the exception’s description.
Thanks for clarifying!
Sorry for my rather worthless contribution. 
I used to get the same problem for some other source mods. Try using the launch command -autoconfig and see if that helps.
Wow, I cannot actually thank you enough… I had a crashing problem on the menu when I first started out playing, so I changed the dxlevel to 90, 95 and these still kept it crashing on the menu, so I tried it on 80, 81 and it worked but created these huge visual problems as you can see, I read your FAQ 6 realising that I didn’t try dxlevel 98, I just tried it now and everything is working perfectly… Thank you once again.
Glad that helped. Have fun playing.