I am having the same problem.
Everything was working fine until this morning with the 1.8 pre release. That's the only thing I know of that changed.
I removed and reinstalled all my forge and minecraft in an attempt to fix it and nothing changed. I was running galacticraft before this, and I ensured that it was not galacticraft by simply removing all the mod jar files from my mods folder.
Here is my crash log:
[11:42:47] [main/INFO] [LaunchWrapper]: Loading tweak class name cpw.mods.fml.common.launcher.FMLTweaker
[11:42:47] [main/INFO] [LaunchWrapper]: Using primary tweak class name cpw.mods.fml.common.launcher.FMLTweaker
[11:42:47] [main/INFO] [LaunchWrapper]: Calling tweak class cpw.mods.fml.common.launcher.FMLTweaker
[11:42:47] [main/INFO] [FML]: Forge Mod Loader version 7.10.25.1208 for Minecraft 1.7.10 loading
[11:42:47] [main/INFO] [FML]: Java is Java HotSpot 64-Bit Server VM, version 1.8.0_20, running on Windows 7:amd64:6.1, installed at C:\Program Files\Java\jre1.8.0_20
[11:42:47] [main/INFO] [LaunchWrapper]: Loading tweak class name cpw.mods.fml.common.launcher.FMLInjectionAndSortingTweaker
[11:42:47] [main/INFO] [LaunchWrapper]: Loading tweak class name cpw.mods.fml.common.launcher.FMLDeobfTweaker
[11:42:47] [main/INFO] [LaunchWrapper]: Calling tweak class cpw.mods.fml.common.launcher.FMLInjectionAndSortingTweaker
[11:42:47] [main/ERROR] [LaunchWrapper]: Unable to launch
java.util.ConcurrentModificationException
at java.util.ArrayList$Itr.checkForComodification(Unknown Source) ~[?:1.8.0_20]
at java.util.ArrayList$Itr.remove(Unknown Source) ~[?:1.8.0_20]
at net.minecraft.launchwrapper.Launch.launch(Launch.java:117) [launchwrapper-1.9.jar:?]
at net.minecraft.launchwrapper.Launch.main(Launch.java:28) [launchwrapper-1.9.jar:?]
Java HotSpot 64-Bit Server VM warning: Using incremental CMS is deprecated and will likely be removed in a future release