from the error code, this looks like a problem with a shared memory issue with RU5. This was a bug with Ru5 and programs that has the same base memory address. Are you installing RU5? If so, either disable the Application and Device Control policy from the SEPM for the group that tihs machine is a member of or upgrade to RU6 MP1.
A good way to test this is to rick-click on the SEP shield down in your system tray and choose Disable Symantec Endpoint Protection. Then try the Avaya Phone Manager and see if it runs ok. If it does, just upgrade the SEP client OR withdraw the App & Device Control from the SEPM group that this computer is a member of.
Here are two links about it:
The application failed to initialize properly (0xc0000005) after installing SEP RU5 with application and Device Control.
https://www-secure.symantec.com/connect/forums/application-failed-initialize-properly-0xc0000005-after-installing-sep-ru5-application-and-de
After migrating a Symantec Endpoint Protection (SEP) 11.0 client to Release Update (RU) 5 or installing RU5, applications fail to initialize properly with error 0xc0000005, or 0xc0000018, or no error message.
http://www.symantec.com/business/support/index?page=content&id=TECH97280&locale=en_US