There is a newer version of Android available. The version referenced on the
elinux.org page is JellyBean 4.2.2, and the newer one is KitKat 4.4.4. You can get the newer one at
bbbandroid.org.
The easiest way to troubleshoot this sort of thing is to use an FTDI cable to monitor the BBB during boot. This will allow you to capture the debug output from the bootloader and the kernel. Since you are using Windows XP, you won't be able to natively mount the partitions of your microSD card and look at them to ensure that you wrote the image properly. You could try using an application like Linux Reader to see the partitions on your Win32 machine:
http://www.diskinternals.com/linux-reader.
You need to verify two things:
1. Did you write the image properly to the microSD card? There can be a few causes for this, including not decompressing the image prior to writing and getting a bad write to the microSD card. If you can see the four partitions (one VFAT, three EXT4), then you probably wrote the image OK.
2. Is the bootloader at least getting into kernel boot? You'll need to see the FTDI output to determine this.
Andrew