Generally the blue screen means you tried to set the resolution to 32 bit color. The V2 can't do 32 bit.
If you can't get to the setup screen to change it back, find and delete video.cfg in the Aces High directory and restart the game. Then be sure to pick a 16 bit color depth.

Or do you mean "blue screen of death"?
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Lephturn - Chief Trainer
A member of The Flying Pigs
http://www.flyingpigs.com "A pig is a jolly companion, Boar, sow, barrow, or gilt --
A pig is a pal, who'll boost your morale, Though mountains may topple and tilt.
When they've blackballed, bamboozled, and burned you, When they've turned on you, Tory and Whig,
Though you may be thrown over by Tabby and Rover, You'll never go wrong with a pig, a pig,
You'll never go wrong with a pig!" -- Thomas Pynchon, "Gravity's Rainbow"