Unable To Play Older Versions With newer Launcher

Version Attempted 1.2.5
Crash: https://pastebin.com/xkvXtm0G
Java Executable: C:\Program Files\Java\jre1.8.0_151\bin\javaw.exe
JVM: Default

Steps to reproduce:
1. delete options.txt or it will crash on startup
2. launch mc 1.2.5 with a executable argument
3. click open single player and watch it crash

Below screenshot 1.2.5 does in fact launch and work with older launchers