Icy Version 1.5.1.0
Java(TM) SE Runtime Environment 1.6.0_65-b14-462-11M4609 (64 bit)
Running on Mac OS X 10.9.3 (x86_64)
Max java memory : 1015.7 MB

Comment:
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Not enough memory !
Try to increase the Maximum Memory parameter in Preferences.
You can also report the error if you think it is not due to a memory problem.
java.lang.OutOfMemoryError: Java heap space
at java.awt.image.DataBufferInt.(DataBufferInt.java:41)
at java.awt.image.Raster.createPackedRaster(Raster.java:455)
at java.awt.image.DirectColorModel.createCompatibleWritableRaster(DirectColorModel.java:1015)
at java.awt.image.BufferedImage.(BufferedImage.java:326)
at icy.image.ARGBImageBuilder.getImage(ARGBImageBuilder.java:137)
at icy.image.ARGBImageBuilder.buildARGBImage(ARGBImageBuilder.java:174)
at icy.image.IcyBufferedImageUtil.getARGBImage(IcyBufferedImageUtil.java:169)
at icy.image.IcyBufferedImageUtil.toBufferedImage(IcyBufferedImageUtil.java:98)
at icy.sequence.SequenceUtil.convertColor(SequenceUtil.java:1988)
at icy.action.SequenceOperationActions$SequenceColorAction.doAction(SequenceOperationActions.java:150)
at icy.action.IcyAbstractAction$ActionRunner.run(IcyAbstractAction.java:89)
at java.util.concurrent.Executors$RunnableAdapter.call(Executors.java:439)
at java.util.concurrent.FutureTask$Sync.innerRun(FutureTask.java:303)
at java.util.concurrent.FutureTask.run(FutureTask.java:138)
at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(ThreadPoolExecutor.java:895)
at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:918)
at java.lang.Thread.run(Thread.java:695)