I'm working on a new project. The video editors have the latest avid version, and our sound team is working with the latest version of protools. We've been encountering problems with that file extension, as opposed to an OMF. Is this a known problem?
With the latest version of AVID, they've nicked the "Open Timeline" idea from FCP - you can pretty much put anything into the timeline and it will do it's best to work with it. Whether or not you like/agree/whatever, the feature is probably here to stay.
So, to answer your question, there are a number of issues with AAF, regarding Multiple sample rates in the timeline, multiple framerates in the timeline and some types of MXF media. The Avid/Digi forums have some info if you want to go searching, but MOST of the errors are due to the first two. The solution seems to be to use embedded media and force it to WAV format in the export box. (I'm pretty sure you can do this with consolidated media as well, but I've never tried it.)
i've seen a number of questions like this asked on the gearslutz post production forum.