Was dealing with issue more or less the same last week. You can also install WhoCrashed (Download WhoCrashed Free Home Edition - MajorGeeks) to find the drivers that crashed your system.
Dumps can be found in: C:\Windows\Minidump
You are running the latest version. Have you tried to uninstall and reinstall? With the issue I was having it was reporting the http://www.google.com/search?q=mfeavfk.sysmfeavfk.sys was causing the problem, uninstalled and reinstalled then it worked fine, although they had some other driver issues, not McAfee related though. I suggest running WhoCrash and investigating the results.
Without full dump can't find root cause of issue, may be due to some process which don't have valid certificate can cause these issues. Try to check minidump file on machine where it will give little bit information.
Sometimes McAfee drivers caught in each blue screen issues because they were always active and validating other processes.
Hate to put you thru this again, but could you fully uninstall VSE again. (Probably all McAfee software.)
However, before running the re-install, let's make sure the old VSE drivers are completely removed.
I use a technique that allows me to see otherwise Hidden device drivers that are leftover and remain.
My theory here is that older drivers are remaining on the system; an old mfehidk.sys may still be
attempting to run, but it's certificate is out of date. Possibly another mfe????.sys file leftover from
another previous install.
I do not recommend uninstalling devices which you are not sure about.
Important: do not uninstall any greyed out Microsoft (or other Codec) entries under the Sound, Video
and Game Controller device. Also, be extremely careful about entries under the Non Plug and Play Drivers
and Network Adapters device list.
If in doubt, do not uninstall a device.
:: Show hidden devices:
:: The article seems to indicate that this is true for Windows XP, but I use it for all versions past XP.
The technique requires opening a CMD.EXE console, Run as Administrator.
Answer Yes to the User Account Control query if it occurs.
Once Device Manager is launched,
View->Show hidden devices
Expand 'Non-Plug and Play Drivers'
Right-Click->Uninstall all entries that start with 'mfe????' or 'McAfee Inc.'
Reboot at the end of these uninstalls.
Now, try to re-install.
Make sure that VSE v8.8 image includes Patch 4, to be sure that the Certificates are current as of today.
Also, try and Successfully update the Signature files before your first reboot. Use a ????xdat.exe if you
have to. Your VSE v8.8 image may have sorely out of date DAT files.
Let us know if this helps.