It looks like you have a duff install sql file. This is what should be in that file for that table:

products_options_value_text BLOB NULL default NULL,

the error is showing it as:

products_options_value_text BLOB NULL d dault NULL,

If you are using Smart or Cute FTP to upload your files I'd recommend using a decent FTP programme like FileZilla or WS FTP Home or Pro.

Vger