good question Limey! I have no idea what it does!
It is some sort of application (cos its actually AOM.exe on windows cos I have one also in teh same folder as you mention).
I tried to execute the prog by double clicking on it, but it didnt seem to do anything at all. Just sat there!
Because it is in the folder it is in , it could be something to do with online registration or it could be the application that when you are in adobe you can click on the eyeball at the top of the tool bar , that connects you directly to adobes online help, so I am guessing it could be the application that is used to do this? maybe?
AOM might stand for Adobe online Manager or similar?
Possibly what you could do is move it and place it on your desktop (or equivalent on your mac, new folder or sumin) and then fire up PS and see what happens? If it is needed for adobe PS to work you will find out then. If it PS starts OK, then try and poke the little eye icon as mentioned and see if you get any error messages? If it has nothing to do with that and your not online, you should just get a error message telling you your are not connected to the web.
Hopefully someone else can give you a definative answer. I am not much of an expert on this stuff.
Let us know what happens and good luck