Same issue here.
If Cisco VUSB is running (in the dock) when the Macbook Air goes to sleep, when it awakens a kernel panic occurs every time. Now I've had to set Cisco VUSB to not launch upon startup to ensure I don't forget about it when putting my Macbook Air to sleep. Very annoying.
Thread on CISCO\Linksys forums: http://community.linksys.com/t5/Wireless-Routers/VUSB-OS-X-10-8-2-and-Auto-Conne ct/td-p/620126
I'm on 10.8.4... and this is Cisco VUSB 1.2.0 (SXUPTP Driver 1.10.0).