It's happening to me, I'm also a constant Azureus user:  

Here's my current beagle logfile:

20070824 00:40:17.2234 05784 Beagle  INFO: Starting Beagle Daemon (version 0.2.16.3)
20070824 00:40:17.4797 05784 Beagle  INFO: Running on Mono 1.2.3.1
20070824 00:40:17.4799 05784 Beagle  INFO: Using sqlite version 3
20070824 00:40:17.4803 05784 Beagle  INFO: Command Line: /usr/lib/beagle/BeagleDaemon.exe --replace --bg
20070824 00:40:17.4962 05784 Beagle  WARN: Extended attributes are not supported on this filesystem.  Performance will suffer as a result.
20070824 01:00:40.9765 05784 Beagle ERROR: Maximum inotify watch limit hit adding watch to /home/corin/Desktop/Warez/Linux Warez/install_flash_player_9_linux.  Try adjusting /proc/sys/fs/inotify/max_user_watches
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