Yes - simply delete it. In older builds, this file was unconstrained except
by the file system--on NTFS it could grow to 2 gigabytes. It is capped in
more recent builds (so the growth you see is old!) There's no harm in simply
deleting the file. In the very early days of the beta there were occasional
problems that we learned more about via messages in this file--generally
installation issue. I haven't seen a productive use of it in at least 6
months, though. Get rid of it.