libpff

Warren as you pointed out:

This is not a bug it is a feature ;-)

http://office.microsoft.com/en-us/outlook/HP010400421033.aspx

Server Failures Contains items that Outlook failed to synchronize from
the Exchange server. When Outlook cannot synchronize the item from the
server, it moves it from its original folder location into the Server
Failures folder. The contents of this folder are available only when you
have a connection to your server.
If you are missing a message that has been sent to you, and you have
verified with the sender that the message was sent, check this folder.
Items normally appear in this folder only when there are failures in
synchronizing server items with an Offline Folder file (.ost) (Offline
Folder file: The file on your hard disk that contains offline folders. The

offline folder file has an .ost extension. You can create it automatically

when you set up Outlook or when you first make a folder available
offline.), which is used when you work offline or use Cached Exchange
Mode. An InfoBar appears at the top of any item that has another copy of
the item stored in the Server Failures folder. Clicking the InfoBar will
open the Server Failures folder for you in a separate window.

Could you check libpff-alpha-20090628 it exports the Sync Issues folder;
but does it solve this issue?

No idea this is probably yet unsupported data.
I'll need some debug info to analyze this.