Looks like it might be installed in the wrong directory.
It shouldn't be in the x86 folder if it's 64 bit application.
Or rather it should be installed in the x86 folder
It's a 32 bit application, but we're talking Mac here, not Windows, and the path looks OK to me.
You do need to update to the 7.0.4 patch.
And see post 10 from John Hakinson in thread http://forums.adobe.com/message/5001756#5001756#5001756. this crash signature indicates a permissions problem on the preferences folders.