A few of us have been trying to help the developers find out precisely what triggers this VM rise on OS X
http://www.gnutellaforums.com/showth...threadid=29871
It's been around for a while, and looks like it could be an Apple VM problem, but so far has been very hard to pinpoint.
In the meantime . . . you'll need to anticipate that you should have 3.5 GB free HD space before starting LW, to allow for the rise and regular VM use.
As soon as OS X get under 1 GB of free space, the system becomes very very sluggish. The newer LW 4.2.4 has helped *some*, but not enough.
Hiding/not Hiding LW has helped arrest VM growth. Keep Activity Monitor running to help see when to hide/not hide LW. This is a lousy workaround, but the only one I know of so far that lets LW run for more than a few days under heavy load.