After looking into the issue it appears that the 1.16 version of the Oculus app is not actually been Released (it was made available for public testing on June 3rd 2017). We recommend only using the latest release versions of the Oculus App.
I noticed that you have opened up a ticket with the Oculus support time (I have provided a link below).
Link: [Rift] Crash with 1.16 / UE 4.16 - Meta Community Forums - 608451
If this issue still occurs after the official release of the 1.16 version of the Oculus app please feel free to reopen this issue with any additional information you may have and I will be happy to investigate further.
Make it a great day