Apart from the crashing, I experienced similar behavior. The sad truth is that with this generation of phone/OS combination, apps (Timelapse Pro, or a dedicated Photosynth app) do NOT have access to Nokia's wonderful software-based image processing pipeline. The image processing is done in hardware, at lower resolution, and still takes more time shot-to-shot than you would like.
A Photosynth app, running on that hardware/OS combo won't deliver better images than you were getting. That said, there are always new phones and new OS updates in the works so things will get better from here