AM should work fine with the latest MAME or any other version for that matter. So, before we start blaming AM, lets get some more information first. Like, what OS version of AM are you using, and is it 32b or 64b? Also, posting a config file would help rule out configuration issues. Though, config issues for the most part shouldn't cause AM to crash.
Here are some basic troubleshooting tips:
Run AM from the cmd line, any config issues will generate error dialog.
If you are having a problem with 64b AM, try the 32b ver.
Make sure you have the emulator configured before importing romlist.
Worst case senario, delete configs and run AM again.