I think your diagnosis is probably right. Reading that article shows exactly what happened with the vector option. With the hybrid option it is just LO that crashes. I note that the article says:
In most cases, kernel panics are not caused by an issue with the Mac itself. They are usually caused by software that was installed, or a problem with connected hardware.
To help avoid kernel panics, install all available software updates until Software Update reports, “Your software is up to date.” OS X updates help your Mac handle the kinds of issues that can cause kernel panics, such as malformed network packets, or third party software issues. For most kernel panics, updating your software is all you have to do.
I have carried out the checks suggested but nothing abnormal found.