Here is an excerpt from the section about issues affecting all applications:
In Mac OS 10.7, Apple has made the user Library folder hidden. Preferences, presets, and other user customization settings are stored within this Library folder.
To access your user Library folder:
For instructions on additional methods to make the user library folder visible, see the following document.
See "How to access hidden user library files | Mac OS 10.7 Lion" (cpsid_90947)
Many Adobe applications are dependent on the Oracle Java Runtime Environment (JRE) for some features to work. Apple recently changed the way it includes Java in Mac OS, and with Lion, Java is no longer preinstalled; it is now an optional install that the user must select.
Since current Adobe installers and applications were built before these changes by Apple, our software anticipates that Java is installed. Adobe and Apple have worked together to ensure that you can install Java at OS install time, or optionally at a later time before you install Adobe applications. At runtime when you launch an Adobe application, you will be prompted to install Java if it is not already installed. If you do not install Java before running an Adobe application, there can be missing or improperly behaving features. If you encounter any issues, installing Java should correct the problems. Corporate IT organizations should take care to preinstall Java (or make sure Java can be installed through their firewalls/security) in order to avoid conflicts with Adobe applications.
If the Java runtime is not installed, some issues that are known to occur include:
For additional instructions for installing the Java runtime see the following document.
See "How to install the Java Runtime (JRE) | Mac OS 10.7 Lion" (cpsid_90908)
Illustrator CS5, Illustrator CS5.1, InDesign CS5.5: Crash reporter doesn’t appear or only appears after long delays (10-15min).
In application scrolling may reach opposite of expected due to "Move content in direction of finger movement when scrolling or navigating" feature. To alter this behavior, deselect the feature at the top of the Mouse section within the System Preferences.
CS2 or earlier versions of Adobe products required Rosetta to run on newer Intel based mac systems. These older versions will no longer be supported as Apple removed Rosetta support with the 10.7 release.
The currently known issues are listed here:
It looks like ppro update 5.5.1, recently released really addressed most of these issues. Lots of focus on Lion. Here is a link to the readme file for the updater.
Way to go Adobe! Kudos to the Adobe pro apps developement team!
N.B. I still haven't upgraded to Lion... still not feasible for me.
This page gives some more details beyond what's in the readme document for the 5.5.1 update: