I have seen this log and its a very unreliable way it seems. I have tried to use this log file to identify which character belongs to which folder (having 16 or so of them) and i have noticed that the file doesnt allways gets updated.
Also the fact that the file is there doesnt have to mean that it gets updated in realtime. When is it written? Anyone tested this? The rest of the folder gets written when you log out that much i can say.