I think this could be a locale related failure.
1) Webclipse stores some information in your home directory – on Windows this would likely be something like C:\users\myusername – from your screenshot, it looks like C:\users\catcher92 in your case.
Is this directory writeable by the Eclipse process?
2) What about the folder in which Eclipse itself is installed – is that writeable? What is the path?
3) What is your current Windows locale?
4) The trace you linked to had some parts “HIDDEN” (not sure by whom, but some of the hidden data is important) – would you mind uploading the same stack trace here?
Hopefully with your details we will be able to get to the bottom of this. Thanks!