500 Internal Server Error

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Hi,
I've installed ecommerce with the superhero theme on my local server. Latest version of c5. Permissions are set to 777.

I have no idea what the LimitInternalRecursion mentioned below means or where to find it in order to get a backtrace.

Any ideas where to go from here?

[Wed Jan 23 09:06:44 2013] [notice] Digest: generating secret for digest authentication ...
[Wed Jan 23 09:06:44 2013] [notice] Digest: done
[Wed Jan 23 09:06:45 2013] [notice] Apache/2.2.22 (Unix) mod_ssl/2.2.22 OpenSSL/0.9.8r DAV/2 PHP/5.3.14 configured -- resuming normal operations
[Wed Jan 23 09:19:43 2013] [error] [client ::1] File does not exist: /Applications/MAMP/htdocs/favicon.ico
[Wed Jan 23 09:19:43 2013] [error] [client ::1] File does not exist: /Applications/MAMP/htdocs/favicon.ico
[Wed Jan 23 09:23:55 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace.
[Wed Jan 23 09:23:55 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace.
[Wed Jan 23 09:25:25 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace., referer: http://bassfloor.com.au/index.php/dashboard/core_commerce/settings/
[Wed Jan 23 09:25:37 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace., referer: http://bassfloor.com.au/index.php/dashboard/core_commerce/settings/
[Wed Jan 23 09:26:06 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace., referer: http://bassfloor.com.au/index.php/dashboard/core_commerce/settings/
[Wed Jan 23 09:29:44 2013] [error] [client 127.0.0.1] Request exceeded the limit of 10 internal redirects due to probable configuration error. Use 'LimitInternalRecursion' to increase the limit if necessary. Use 'LogLevel debug' to get a backtrace., referer: http://bassfloor.com.au/