I've seen it reported all around, but apparently no fix. The Z freezes when you use a swap file on the CF and you suspend for a longer period of time than a couple of seconds.
For the SD card there is the sdcontrol where you can specify what the Z does on unmounting and mounting the card, which takes care of the swap file issue.
Is there something like this for the CF, i.e. where you could specify to swapoff on suspend and swapon on power-on?