phpStorm 2016.2.1 is running out of memory, cant start 64-bit version due to errors. Urgent, please help!

I have followed the instructions, but can't start the 64-bit version of phpStorm.

When try to start i get this error

 

I have set the path to JDK 64-bit in Windows

 

I have tried to switch in phpStorm, but the button is grey and inactive.

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