OK, first - try the new forge. You're running the 7.7.0.582 build, get the newest one (7.7.0.589). It seems to be working for many people.
Second, as LexManos said: "1.4.7 mods DO NOT work with 1.5."
So make sure that all your mods are up to date.
I don't know how you install your mods, but using Magic Launcher helped me.
It lets you add 1 mod at a time. It might help you to work out, which mods are causing a BS.