The 146 image has better stability when using the Arduino IDE, if you are using Eclipse using the 146 image won't help you, so I would suggest you to flash your board to the latest image (which can be found in Intel® Edison Downloads). My guesses would be that there might be something wrong with the script itself or that something could be wrong with update-rc.d. Does your script work fine when uploading it from Eclipse? I mean, if you don't start it using update-rc.d.
It can run more than 5 minutes by using eclipse in debug mode. However, when i put it to run on its own upon startup using update-rc and it just go unresponsive. Pls advise.
Solved the issue by writing a script to run my application instead. Thanks!