While in Vista, download, install and run Autoruns:
Autoruns for Windows and click on the Everything Tab. Check through the listing to find any entries associated with HP Smart Menu OSD and see if there are any special to audio settings. If so, uncheck the box so they don't start at startup and reboot and the problem should be resolved. A bit more radical but it will probably resolve the problem (though it may cause some inconveniences as I'm not sure what it does) is to uncheck the boxes for the HP Smart Menu OSD (check the list as there may be more than one entry) and click OK and reboot. The problem will almost certainly go away, but then HP Start Menu OSD won't start at boot either. i have no idea if you use it or even need it (you can always recheck the box to add it back if you don't like the consequences - but read on before doing so). Perhaps there are other ways to accomplish whatever it does - maybe without needing to open the program at all (or maybe by adding one or two other programs that do the same thing essentially but won't cause the problem). We can look into that if you find things you want/need missing and want it running for those things and explain them in a reply so I can see if there are other options available.
If you removed it from automatic start and that solves the problem (as it should since it isn't starting), I don't know if starting it manually will allow it to function properly and avoid the problem you have at present - but if you need it or want it, then try that before adding it back to the automatic startup menu to see if it works and doesn't cause the problem. If so, then you have a quick and simple workaround that's much better than what you need to do at present.
If that doesn't work (or even if it does but you want the program starting automatically), then please post any error messages from the Event Viewer concerning HP Smart Menu OSD (Start / Control Panel / Administrative Tools / Event Viewer). Here's how to use Event Viewer: http://www.petri.co.il/vista-event-viewer.htm. Look in the Application section. This may help identify the specific problem when it occurs.
If it causes the same problem when started manually, then I suggest you check the HP site to see if they have updated software and/or drivers (again, I'm not sure what it does or what you use it for) and install them to see if that helps (do so even if the same versions you already have in case your current versions have become partially corrupted). If that doesn't help, I recommend you contact HP Technical Support to see if they can offer any assistance or suggestions or recommendations as the problem does seem to be their software (though it may take some fancy talking on your part to get them to help given that it's related to a dual-boot setup which I suspect didn't come with the machine and they may consider that outside their scope of coverage - perhaps you can leave out the dual-boot part and simply explain the problem - it's possible that switching causes the issue but that it can be resolved with just Vista - but if nothing they suggest works then come clean to see if that results in a solution being identified as at that point you will have nothing to lose by trying).
I hope this helps and/or that at least one "solution" is acceptable or can be made acceptable. If not, post back and we'll see what else can be done but given it is their software that is almost certainly the cause (and not Vista or even the dual-boot setup though there may be an issue with the drivers not switching over with this software when you switch systems and I frankly am not sure at this point how to identify if that's the problem or resolve it if it is - but if I can pin it down to that I can research it more precisely).
Good luck!