I normally fold AJo pre-flop from that position. When I do play it, I have mixed feelings as to whether to raise it or limp it. By limping I avoid scaring off the Ax players who I might dominate and get payed by post-flop....but I also risk letting players with garbage hands hit a big flop.

However, I like your post-flop play. In a raised pot you can't fear the flush too much. It's more likely that he has a four-flush than a made flush post-flop so you bet to protect your hand. Sadly, it's entirely possible that he has AQ/AK....but I bet it's more likely he's chasing the flush with a king of spades. Mathematically AQ/AK is more likely but his play seems more consistant with a chaser.