TL;DR
Update the /usr/local/crashplan/bin/run.conf with the maximum value you want your java heap to be allowed to use:
SRV_JAVA_OPTS="-Dfile.encoding=UTF-8 -Dapp=CrashPlanService -DappBaseName=CrashPlan -Xms20m -Xmx1024m -Dsun.net.inetaddr.ttl=300 -Dnetworkaddress.cache.ttl=300 -Dsun.net.inetaddr.negative.