When given a large amount of databases (180+ DBs mentioned in case), slssqlmaint.exe will fail and give few clues as to why.
Faulting application name: slssqlmaint.exe, version: 6.5.2.1042, time stamp: 0x2a425e19
Faulting module name: slssqlmaint.exe, version: 6.5.2.1042, time stamp: 0x2a425e19
Exception code: 0xc0000005
Fault offset: 0x000094c2
Faulting process id: 0x17d8
Faulting application start time: 0x01cdd93fd4de820f
Faulting application path: C:\Program Files\Microsoft SQL Server\MSSQL10_50.P1\MSSQL\Binn\slssqlmaint.exe
Report Id: 1350a00b-4533-11e2-9187-0017a4779032
WORKAROUND
Check the "All User databases CheckBox"
Split up the job, or exclude databases that you have no desire to back up.
CR 91627 created to address this issue.
This has been fixed in LiteSpeed version 7.1 or higher.