Okay, my guess is the problem is caused by AVFoundation audio being borked on iOS 5 and the interaction of Game Center and CocosDenshion when the app resumes.
This line in the crash log gives us a clue it is Game Center:
Oct 17 14:32:49 unknown mediaserverd[6401] <Error>: 14:32:49.368387 com.apple.AVConference: /SourceCache/GameKitServices/GameKitServices-344.3/AVConference.subproj/Sources/AVConferenceServer.m:1867: AVConferenceServerStart
Do you guys use the in game chat facility of Game Center? If not it seems like that comes along for the ride whether you want it or not.
As for Game Center resuming, it probably uses exactly the same strategy as CocosDenshion when you tell it to auto handle resignation - i.e. it registers for notifications with the notification center.