Ladies,
Since (a) recent patch(es), I've been having issues with LoL. The client kept crashing on Adobe Air whenever I came out of a game and tried to access my profile and I couldn't figure out the reason for it. Repaired the client a few times and even reinstalled to no avail. Now, I knew about this fix a few days ago, but I couldn't post due to overzealous mods, but since I'm back, I'll inform you nonetheless.
The issue probably lies with the fact that LoL uses its own Adobe Air client. The difference is probably minimal compared to the official Adobe Air Client, but lies in the fact that if you run multiple Adobe Air applications, the DLL's might get mixed up and try to access memory locations that either of the DLL's already has in use.
I didnt find out what caused the actual error, until I had my laptop (which has Visual Studio) debug the error and it returned an access denied on a memory location within the file "Air.dll". After some research, I found out that LoL does not use any "Air.dll", but LOLREPLAY does. So I went and took the "Adobe Air.dll" from the LoL Client ( [installdir]\Riot Games\League of Legends\RADS\projects\lol_air_client\releases\0.0.0.247\deploy\Adobe AIR\Versions\1.0\) and placed it in the LOLReplay directory. I then made a back-up of "Air.dll" and renamed "Adobe Air.dll" to "Air.dll".
Since then, no more issues. So if you are using LOLREPLAY and experience such errors, perhaps this will help you out. Not to mention that it is possible that other Adobe Air applications could potentially cause the same problems. So anyways, just a headsup.
Edit: I should mention that my OP seems to create some side-effects on LoLreplay, which isn't entirely unexpected, since both lol and replay use their own and possibly custom DLL's, so I would in hindsight, not recommend using it.