I would say it's a texture problem, but if I remember correctly the models and textures for ff7 are like the same thing...not like nowadays where it's the model with textures on top.
so basically if the problem was with the textures I don;t think the model would show up at all.
hmm, I dunno what to say

pointless post, except to help rule something out
and as for the crashing on the laptop, as long as you have the 1.02 patch (not animevamp's) you should be fine