I get the same problem but I am able to dissolve it. Please go through the following options,
Some Info : -
The cryptic nature of the message can be deciphered as follows: Insane object at FPHP+4C in "name.vi": {dsitem} 0x400: Panel (FPSC)
- FPHP -- this will be either FP or BD for "front panel heap" or "block diagram heap"
- 4C -- this is a hexadecimal number indicating which object.
- name.vi -- which VI had the insanity
- {dsitem} 0x400 -- really only meaningful if you know how LabVIEW internals work; I'll skip it here
- Panel (FPSC) -- the type of object that has problems. The four letter codes are usually descriptive (COSM for a cosmetic or simple drawn part, SGNL for a signal aka wire). A common one that you won't guess is DDOD, which stands for Data Display Object (the last D is because it has to be 4 chars). A DDO is either a control or an indicator.
Most of the time, deleting the offending object and recreating it from scratch is sufficient to fix your VI and allow you to continue working.
Solution :- Go through the following steps
Open your VI Press CTRL+SHIFT+D+H. On Mac, use the command key instead of CTRL. This will open a window known to LV R&D as "heap peek" since it gives internal views into the front panel heap and the block diagram heap. The window is divided into 4 sections: top-left, top-right, middle, and base. The functionality of the various parts is obscure and mystical, so we're just going to focus on the bits that help with finding and deleting insane objects. Check the error message given about the insane object. It includes either the letters BDHP or FPHP. Scroll through the top-left list box until you find those 4 letters and the name of your VI. Left click to select that item. This will change what is displayed in the top-right section of the window. In the top-right section, find the line that begins with the number identifying the object. These are sorted numerically. Left click to select the object when you find it. In the middle region, there is a box with an F inside it. This is a button (heap peek doesn't use a lot of advanced drawing, so it doesn't really look like a button, but it is). Click on the F button to find the offending object. LabVIEW will switch to the block diagram or front panel and select some object. Whatever object it is, delete it
This info is also available on link....."http://wiki.lavag.org/Insane_object'
Thanks
Hemant