The error message suggests that the system is running out of semaphores although plenty seem to be configured:
kernel.sem = 400 32000 512 5029
Could it be that there are other programs on this machine as this user using semaphores?
Have you made changes to the kernel parameters and haven't made them permanent with
# /sbin/sysctl -p
or a re-boot?
If you've done a # /sbin/sysctl -p have you recycled the TT daemon
$ ttDaemonAdmin -restart
So TT takes up the new settings?