This is NOT a solution!
The Problem persists, even after the update and restarting of Mac-OSX 10.7.3!!
Could you create a new thread and include your crash log? I suspect you're running into something different.
I can confirm that's Chris's information is accurate, at least for my company's application, which is built using Adobe AIR. With "Automatic graphics switching" turned on (and no Chrome or Firefox running), AIR apps would crash upon launch with Mac Lion 10.7.2. After upgrading to Lion 10.7.3, the apps launch normally. Thanks for working this out with Apple.
Chris: I decided to not create another thread.
26.03.12 12:53:14,801 Adobe AIR Installer: Runtime Installer begin with version 220.127.116.1180 on Mac OS 10.7.3 x86
26.03.12 12:53:14,801 Adobe AIR Installer: Commandline is: -psn_0_2744990
26.03.12 12:53:14,801 Adobe AIR Installer: No installed runtime detected
This, esp. "No installer runtime detected" I notice since SnowLeopard (at least).
And so, no I don't think you worked out anything out with apple.
What I tried so far is:
Started Chrome Yes & No
Fresh system start Yes & No
Automatic graphic switching On & Off
All above in any combination
Your help would be very much appreciated.