On a computer with VM disabled I noticed the following log entry:

Unable to determine path to VM swap files; assuming /var/vm

VM was disabled with sudo launchctl unload -w /System/Library/LaunchDaemons/com.apple.dynamic_pager.plist, not sure though if it is worth checking this variable to avoid the error message.

More detail on disabling VM is here: http://hints.macworld.com/article.php?story=201106020948369.

Dr. D,

QRecall obtains the command parameters of the dynamic_pager process. It examines these to determine if the VM backing store has been relocated, say to a dedicated swap drive.

If QRecall cannot find a running dynamic_page process, or it can't make sense of its parameters, it falls back to assuming that the VM backing store is in /var/vm, and logs the message you see.

If you're not running dynamic_pager, you can ignore this message. Just be aware that nothing in /var/vm is going to be captured, which probably doesn't make any difference for you.