Error messages are:
Thu Jul 22 11:46:34 jouni-iDevice installd[643]: entitlement 'keychain-access-groups' has value not permitted by a provisioning profile
Thu Jul 22 11:46:34 jouni-iDevice installd[643]: entitlement 'application-identifier' has value not permitted by a provisioning profile
...
Thu Jul 22 11:47:06 jouni-iDevice SpringBoard[28]: Application 'Zattr' exited abnormally with signal 11: Segmentation fault
This time the solution was found in TUAW article "devsugar: A better way to share ad-hoc builds".
Summary: instead of normal Build use Build and Archive, find your application, find the last date, press Share Application button and - The Critical Phase - verify your identity is your Ad Hoc Distribution Provisioning Profile. Save locally and install e.g. via iPhone Configuration Utility.
...suspect Ad Hoc release problem is caused by having two different provisioning profile files using same application id. I generate three applications (development, release test, public) from same sources with some compile time flags and different provisioning profiles and app ids. Guess code signing identities got mixed.