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I apologize for yet another thread on this, but I am hoping a new thread can direct my specific issue.
Any suggestions?
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I had the same problem. I use yosemite. Downgraded from 4.0 to 3.0. Same symptom.
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Seems like you are looking at a wrong location. Please refer to the Screenshot below (Shared both wrong and correct path).
Hope this solves your problem.
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Apparently the default in yosemite (compared to what I was used to in Leopard) is to HIDE the library folder. So I didn't think the path above existed.
Access hidden library files | Mac OS 10.7 and later.
The default view of the ~/Library folder is hidden. So while hidden you can't navigate to the activation.dat file in a finder window.
You can either "GO TO FOLDER ~/LIBRARY" or just make it visible permanently.
You do this by entering within Terminal the following command and press Return:
chflags nohidden ~/Library
Now you will see ~/Library. (~ is shorthand for your login username for the linux naive).
This resolved the immediate issue (of E_ACT_NOT_READY). But as seen in other postings, ADE 4.0 crashed after loading a acsm file. I downgraded to ADE 3.0 and life is good again. It all used to work with my old system running ADE 2.0 and leopard.