In tomorrow's game, I'm going to have a troll under the affects of a fly potion, and he is going to position himself in front of the party druid, who is flying around as an Eagle (average maneuverability).
He will move up and attack, while the druid is at the extent of the troll's reach. When the druid's turn comes, due to his average maneuverability, he will have the option to stall and fall out of the air (provoking an AoO), or move 5 feet toward the troll (provoking an AoO), turn 45 degrees, then fly past the troll.
The troll's plan for this resulting AoO is to start a grapple. The troll does not have improved grapple, so he will provoke an AoO from the druid, however, at this point the druid doesn't threaten the troll...
Does the druid get the Attack of Opportunity in this case, even though he won't threaten the troll?