I removed the said file from the modules folder. I then tried to start a new game again and this time, it got through. I even witnessed the droid powering up - scene and the AI's sitrep of the ship.
It is now using the original file and not the mod's?
If this works now, I will still be able to witness all the features and cut content installed in 1.7.?
EDIT : It seems pretty clear now that the 001EBO.mod is causing somekind of problem with the intro-sequence. I tried to start a game (after inserting the file into the modules folder) a couple of times but it just wouldn't work. Immediately after I again deleted it from the folder, I was able to start a game.
EDIT 2: Windowed mode also works now for some reason. The .exe starts up in windowed mode but I can easily make it fullscreen. This doesn't have any noticeable effect with the intro situation, having the 001EBO.mod in the folder or not and being/not being in windowed mode.