There was a bit of an initial take-off problem, when the game wouldn't launch; it would just crash on me when I tried to play the game. That problem turned out to be an issue that Skylanders has with a setting typically used for Media Centers. In case anyone else runs into this problem, I wrote up how to solve the Win7 Media Center / Skylanders: Spyro's Adventures problem.
What I did find, however, was that certain levels had a bug which caused the Spyro Portal to intermittently think that the collectible character figurine had been removed from the portal for a couple of seconds and then recognize it again and return me to the gameplay. The time between occurrences could be as long as about 45 seconds or as short as a second or less. This effect would interrupt even the in-game story dialogue, leaving me to throw in my own words at each pause, Mad-Libs-style, since I couldn't do much else. I encountered this issue on one challenge level and two story-levels in the game: Hobson's Choice, The Goo Factory and Battlefield, respectively. I talked back and forth with Activision to determine the problem, but, in the end, it turned out to be that something went wrong in the install of the game.