Thank you so much! I did indeed have a font called "Blank" on my system, which I do not recall installing. However, after deleting this font, Opera is now working perfectly.
If anyone else has this problem investigate C:\Windows\Fonts and delete any "Blank" font (mine was called Blank Blank in the Font Manager).
If it says the font is in use (keep in mind I use Windows 8.1):
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Right click the blank font and select 'properties'
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Take note of the file name
del "C:\Windows\Fonts\font-name.ttf"
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Open CMD and type the above command BUT DO NOT RUN (your path might differ from mine)
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Open task manager, close any running instance of Opera and explorer.exe (your Windows UI will disappear, but we'll get it back shortly)
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DO NOT CLOSE TASK MANAGER
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Run the command in CMD
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After the Font is deleted, go back to task manager
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Click 'File' then 'Run New Task'
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Type "explorer" (without quotes) and click ok
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Start Opera