I tried it and the the event logs are gone!
What I did was went down to the Exchange System manager, Administrative Groups, I chose the Administrative group of the user indicated in the event log (actually it's more than one user and they are all in the same A. Group)
Then went to the exchange server, listed under "servers" then check the security properties of my BB service account and found out that "Administer Information Store" permission. Also I verified that Send as and Receive as is also allowed, as this is also needed.
here is the link for proper BB service account permissions: BlackBerry Search Results