hmm, not too hopeful. This is also running on VMWare ESX Server. I have several RHEL 5.0 servers setup just like this, so I don't think it is any kind of RHEL/ESX combination issue. I would also be surprised if it is hardware related as every other virtual machine on that same system is chugging along fine (although this problem vm does have 2.5GB of ram allocated to it, which is significantly more than any of the others, so it could be RAM related and this server hit it due to probability). Just thinking out loud here.
Anyway, I set it up to reboot on a kernel panic for now, and I'll monitor it for reboots. Maybe it was just bad luck and won't happen again.