You simply ran out of memory (128MB max):
128 Megabytes (MB) = 134,217,728 Bytes (B)
If you have enough resources, I'd suggest to simply increase the JVM memory to e.g. 1GB max:
java -jar -Xms512M -Xmx1024M jaudiotagger-2.2.3.jar
This increases the Heap Size by passing JVM parameters -Xms (initial heap size) and -Xmx (max heap size)
This should do the job, but there's more parameters if you need to fine tune. See e.g.:
Increase heap size in Java
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