Just updated the Raspberry Pi to Kernel 3.12.2, using the latest version  from GitHub:
# git clone -b rpi-3.12.y –single-branch https://github.com/raspberrypi/linux

The system boots (into Pidora 19) and audit_syscall still causes a ‘tombstone’ just after the command prompt shows up, but apart from this the system seems to be running OK..

Pidora release 19 (Raspberry Pi Fedora Remix)
Kernel 3.12.2+ on an armv6l (ttyAMA0)

Robert Gadsdon.  November 30, 2013.