Hi Glenn,
Please post the crash log located at : ~/Library -> Logs -> CrashReporter
You might also want to try the following steps and check:
Delete all the files from following folders:
[Home]/Library/Application Support/Adobe/SLStore
[Home]/Library/Application Support/Adobe/SLCache
And, delete all files from following folder except cache.db
[Home]/Library/Application Support/Adobe/AdobePCD
Then launch Acrobat and try to activate and check.
Regards,
Rave