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Check the link below for info. Also two things I noticed from your log. One is you have a 32 bit os which will cause issues running newer, 1.6 & 1.7, modpacks and you also have a java entry -Xmx512 which tells java to use 512mb of ram only. This will cause issues as well. You need to remove it. Check the second link for removal of this entry.
You may still have issues even after making these changes because of your 32-bit os and the only way to fix this is to install a 64-bit os and also 64-bit java. If you choose to do this you really need 4gb of total ram or more.