I think I might have stubbled across the problem, but haven't figured out if there is a fix or I'm just SOL...
It appears that when I do not have hyper-V turned on that the hibernate function operates. Now it crashes the machine instead of actually hibernating it; but that's a somewhat different issue. As soon as hyper-V is running, it can't hibernate properly. Is this a restriction of using hyper-V or is there another way around this?