As you might be experiencing yourself, the upgrade to Lion has not been as smooth as silk. The most annoying revelation is that for whatever reason, Adobe now figures they own my Lion based system and have decided, without permission to start launching all kinds of services and managers and what not… in true Adobe style.
This CS5ServiceManager.app is the one that really boggles the mind. I don’t know what it’s for, don’t much care, don’t really use Adobe products… so buh-bye.
The words of EMINEM come to mind, “[Adobe] you can get stomped by Obie, you  year old [bloated] [app] can blow me! You don’t know me, you’re too old let go its over, nobody listens to techno!”