How old is you PC? It looks like you have an older ATI card, they don't call them ATI Radeon anymore, just Radeon HD. They stopped support of the old ATI's. You can't even get drivers for them (from what I looked up on the driver downloads).
If the output log stops at the line "GfxDevice: Creating device client; threaded=1," it could be your GPU. Your GPU may not allow threaded operation since it is an older card. Or it could be the CPU, and I don't think older ones utilize multi-threading. Oh, and what version of OpenCL do you have? That could be causing the program to close so abruptly. You pass the minimum requirements, so I don't know. :P
Maybe there is a cfg file in the game that would allow a custom edit so your PC reads the program properly without an abrupt close.
To Dan or C7:
Is that possible? Is there a file that can be changed manually to fix his problem? I got Fallout 3 to work on my Windows 7 by changing a file's number value. That game didn't work as well on modern CPU's because it was an older game and didn't take advantage of multiply cores.
Or quite simply, kamikaze15, your PC may be too old for it to even work at all, but we won't say that just yet. That's the "last resort" explanation until you're out of options. When I see stuff like this happen to other people, I blame the graphics card or CPU, because they're usually the culprit in people's problems. This time could be different, though.