Here's a possible fix, with link to videos (I figured this out on my own, so maybe it will help - i now have the game up and running):
http://answers.ea.com/t5/Origin/Possible-fix-for-0xc000007b-application-error-issues/td-p/4011417
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You need to Install Microsoft Visual C++ Runtimes all of them for it to work download link below.
http://www.ghacks.net/2012/08/24/install-microsoft-visual-c-runtimes-in-one-go/
