I'm surprised not to see this already mentioned here: there are post about it on the Apple Support Forum.

It may affect many who aren't aware of it - I only found out about it when a disk clone operation that normally takes 45 minutes continued for 11 hours.

SYMPTOM: many, many, many thousands of log files are being created in /var/log/asl/AUX.2011.[MM].[DD] directories, each containing a message like:

WebProcess(225) deny file-read-data /Users/foobert/Library/Application Support/Adobe/AIR/ELS/com.adobe.amp.4875E02D9FB21EE389F73B8D1702B320485DF8CE.1/ PrivateEncryptedDatak

When I discovered the problem, those log files had already consumed a whopping 10GB of my hard drive. The messages especially proliferate when Safari is running, insofar as it seems to want to access the keychain.



The problem can be remedied by going into Keychain Access and deleting the PrivateEncryptedDatak keychain, but that keychain is recreated whenever I launch my most useful AIR application, TweetDeck.

The problem is serious enough that I've had little choice but uninstall AIR… and the problem wasn't isolated to just one computer: after discovering this on my desktop Mac I found that exactly the same thing was happening on my laptop, also running OS X Lion.