How many GB of memory do you have available on your machine and how large is your largest dataset ? The error below suggests your process ran out of memory during the creation of excel report.
When the validator 1.5 starts up, it by default assigns 1 GB of memory to the java process unless you modified the client.bat file to give it more
START /B javaw -Xms256m -Xmx1024m -jar lib/validator-gui-${project.version}.jar
You may wan to try incrememtnally increasing the 1024m until the error goes away. I image you have at least 4 GB of RAM. Try increasing to 2048m