Sure seems like a bug to me.
From another User: I can't say this is the solution for everyone, but in my file I zoomed out to 3% and did a "select all." Turns out, there was a placed object on my file that was off of the document (in the gray area). This was what was causing the problem, although I still don't know how it got there. The lesson is that "memory -108" isn't really a memory problem. I actually saw a post in another thread where someone said the same thing. It's more of a general "I don't know what to do, maybe it's memory.." problem that the app spits out. In this specific instance, my guess is that the EPS component couldn't generate the EPS preview file because part of the image was off the drawing area. Like I said, I was able to save with preview turned to "None.
I'm glad I could help ...
When saving as an EPS I made sure that the preview was set on NONE and then had no problems!!!
Funny little quirk.
I found that by setting the 'Preview' (in the Save-As EPS settings) to 'None', that I could save an EPS file, no matter how large, without receiving that error.
This has worked 100% of the time. The trade-off is that you don't get a file preview, but you will be able to save your file.