Yes, there is a minor trigger on it, but that just populates the lastupdated date and DB host name fields, which will use the same values, irrespective of the user...
I've had a few issues with rogue transaction logs as well (on MSDE at any rate). Even on autoshrink I've had them grow to over 10GB, and didn't even notice...
I've had a lot of experience with corrupt transaction logs. We have a client where they put out machines with faulty raid controllers. If the machine lost power, HDD corruption...