What could cause Error #2015?

In our application we've been getting a bunch of reports of
"ArgumentError: Error #2015 / at flash.display::BitmapData() / at
...etc." errors - thrown both in our custom code and in the SDK code.
(The applications are AIR and run on PCs and Macs - non-mobile only.)

Am I right in assuming that it's a case of the operating system
refusing to allocate the memory required for the new BitmapData
object? Could it be down to something else?

PS: if the arguments to the BitmapData() constructor are wrong (either
< 1, NaN, or their product is too large to allocate), the stack trace
is "ArgumentError: Error #2015: Invalid BitmapData. / at
flash.display::BitmapData/ctor() / at flash.display::BitmapData() / at
...etc.", so I imagine it's unrelated?