It just means that the pagefile.sys is increasing.... Windows does this when the current VM goes over the set minimum VM...
The pagefile.sys has a file size which is the set minimum size of HD space to use for VM. Mine is 700MB (Minimum). If apps are asking for more memory and the VM goes over the size of the pagefile.sys, Windows notifies you and the pagefile.sys increases its file size to say over 750MB. It continues doing this until the VM goes under/reached the minimum/maximum level. But When the max HD space for VM has reached, memory requests are denied.
Think of the pagefile.sys as an expanding RAM - the file increases when the VM goes over the minimum file size.
What this all means is that you need more RAM. Or You can increase performance by making the pagefile's max and min sizes high and identical. For example, i have mine set at 700 MB (Both max and min). This is to prevent disk activity resulting from increasing the pagefile.sys size.