In general, any use of large temporary memory allocations will result in page faults. Large memory mallocs / frees will result in 1:1 calls to VitualAlloc/VirtualFree, whereas small memory allocations are coalesced. Memory returned from VirtualAlloc will cause a page fault whenever each page in touched for the first time: initially each page memory is simply added to the virtual address space, but has no physical memory backing it until the page fault is triggered.
Although I haven't looked into it in detail, I'd guess a source of the larger number of page faults you see in Sublime Text comes from the drawing code. Whenever a window is redrawn, a temporary buffer the size of the window is allocated (for double-buffered drawing), which due to its size will usually be allocated via VirtualAlloc (as opposed to using memory in the unallocated portion of the heap), and so will trigger page faults when accessed. The flip side of this is that you get flicker free drawing on Windows, which is not typical of the platform.