Hey Gold Code-
Sounds like you may have some corrupted MsPinky Preferences files.
Go to the <<YourUserName>>/Library/Preferences folder and delete
all the preferences files whose names start with "MsPinky" (MsPinky-TouchePas, MsPinkyKeyMappings, MsPinkySetLists) and also the file "BabyTalkFXConfigs". That should allow the program to launch successfully.
Now I'm sorry to say I can't help you with the other problem you're having (the crashing and the warbling problems) because I'm pretty sure those problems are due to the fact that you're using the M-Audio Quattro. I've had to actively discourage folks from trying to use MsPinky with that particular audio device. It's just notoriously flakey. So to improve your MsPinky experience, I would suggest two things:
1) First-- ditch the Quattro. A FireWire audio converter is highly recommended. You might try the M-Audio 410 FireWire, for instance. Hey-- even the built-in audio hardware on your machine will be better than using the Quattro (even though you'll only be able to use 1 TT that way).
2) A faster machine is also recommended. With the 550 MHz TiBk you're going to be maxing out the CPU a lot -- which can also lead to unstable operation.
If you have further problems, please email me directly.