SOLVED!!! (for me, anyway)
I have Mac powerbook pro (Dec 2011), ) OS10.7.2 (LION)
Error message started with
Your Mac OS X startup disk has no more space
available for appliaion memory.
But after that every thing was frozen.
I narrowed the problem down to a program I use called iglasses. I solved it by installing
the version 3.1 Beta. Now, no more crashes with the above error message. I asked Ken
at ecamm.com (the nice makers of iglasses) what the problem was, that he fixed with his beta version 3.1
and he wrote this:
"I was able to work around a bug in Apple's Unsharp Mask Core Image filter when it's used with the Intel HD3000 graphics card. It was leaking memory with each frame, causing virtual memory to grow out of control. Virtual memory is disk-backed memory, and that caused the hard disk to eventually fill up. Once the vm page file fills up the hard disk, no more memory (or disk space) is available for the kernel or applications, and everything just falls over. It's very unusual for it to happen that way and I've never seen it happen before, but that's what it was! 😉 The solution was to restrict the range of input parameters to that filter to avoid the bug which only happened with certain parameters."
So, even if you are not using iglasses, perhaps the problem is still from the HD3000 graphics card?
Anyway, my problem was basically solved by process of elimination. What things were running when crashes occured and what things were not when they did not.