VLC 2.1.0 and 2.1.1 hang when opening HD files

Today I upgraded from 2.0.4 to 2.1.1 and all HD movies which played fine previously cause VLC to hang immediately.

The videos have the following properties

HD (i.e. 1920x800 to 1920x1080)
MKV container (created with recent MKVMerge)
AVC video
DTS sound (did not test AC-3 yet)

I have a Radeon 7800 with current drivers.

I attached two screenshots of the "messages" window. The first one is shown immediately after opening the movie. Then the GUI hangs (window is not responding). After a while (maybe 15 secs) the window is updated which you can see in the second screenshot. Then after 1-2 minutes, VLC crashes. When starting VLC again, it offers me to send a crash report, which I just did.

I also attached some screenshots of process explorer which might provide some additional information.

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