I can confirm we always run the latest version of Smarter Mail. The problem was fixed on our side by upgrading the email server from 2GB to 4GB of memory. It seems that from time to time, with 2GB, the SmarterMail process is trying to use too much of the available memory, apparently during ActiveSync synchronisation of large accounts. I've seen the SmarterMail process using more than 1GB of memory during the synchronisation of a single account. If the spike of goes above the total 2GB that's available, everything crashes as a result.
Hope it helps.