I've run into the 'Out of Range' error a couple times myself. The vast majority of the time, it's a result of a program (or an OS. That was fun) trying to use a refresh rate (as opposed to resolution) than the monitor supports.
You've got a few options for fixing it. One is to see if they were kind enough to include such settings in a text file (.cfg, .ini, that sort of thing) which you can edit to change the refresh to something your monitor will allow.
Another is to see if there's any "command line" options you can add to a shortcut to alter the refresh rate. Odds of this one working aren't good, but it's always worth a shot.
The only other thing I can think of is to hook up a CRT to your computer to load the game, since as far as I know 'Out of Range' errors are the exclusive domain of LCDs. Then hopefully there's an option within the game itself to knock back the refresh.
Otherwise, it sounds like someone made an oopsie somewhere, and you'll have to twiddle your thumbs until a patch comes out.
PS: I'm pretty sure the hardware that can handle Crysis with ease isn't on the market yet.
