Out of date drivers or bugs in drivers is not a theory -- the number one cause of crashes in Photoshop CC and CC 2014 on Windows is bugs in video card drivers that have already been fixed, but the user has not installed the updates. Some users think they are up to date because they made the mistake of updating from Microsoft (and getting drivers that are years out of date) instead of updating from the GPU maker's website. Also, installing Windows 8.1 downgraded any drivers you had installed to the out of date Microsoft versions (with all the old bugs).
Software depends on the OS and drivers working correctly. If the driver is not working correctly, then the software may encounter bugs in that driver and crash or misbehave.