Don't know about Mac but with Windows machines it is sometimes difficult to get the computer to wake up after putting in deep sleep.
you should probably ask if there others with sleep issues
noting your hardware and exact version of Ps may also be helpful to you
the apple fourm would have sleep threads if it a known problem
i haven't seen sleep issues for a long time, but I'm running 10.6 and 10.4
meantime, you may want to do the routine Mac maintenance like
Cocktail OSX (clear cashes, especially fonts...)
Disk Utility (Repair Disk, Repair Permissions)
reset the Pram (or whatever it's called these days)
try New User account
Are you using any font management software/plug-ins?
yes, i am using suitcase fusion 3. i didn't have this issue until i upgraded to lion and cs 5.5. i have run cocktail and repaired permissions, problem is still happening. not a big issue, maybe it will get fixed with 10.7.3. thanks for your help.
Try disabling your third party plugins and see if the problem continues.