There is no hard limit that I'm aware of, but using the 32 bit version you only have access to 2GB of RAM unless you're using the /3GB switch, in which case you have 3. It's very possible you're having memory issues. If any intentional limit were being encountered you would see an explanatory dialog box or error, it wouldn't simply exit, so that suggests something is going wrong.
One thing to be aware of is that image (or terrain, or other data) size *on disk* isn't necessarily the same as size *in memory*. A good example of this is the difference between an uncompressed TIFF image and a PNG of the same image. The PNG will be losslessly compressed and so has the exact same actual image data in it, but it may be half the size of the uncompressed TIFF, or even smaller. Both will take up the same amount of memory though because the image data must be decompressed when decoded and loaded into memory. So a 100MB file on disk could take up 200MB in memory, or even more, depending.
- Oshyan