I actually did solve this. Forgot to come back and answer. Hopes this helps Stefano.
I went into dropins/fb-4_7-plugin-encoded.link and edited it to say the following:
path=C:/Program Files (x86)/Adobe/Adobe Flash Builder 4.7
... tried to do that but it does not resolve ... (obviously on macosx I edited path=/Applications/Adobe\ Flash\ Builder\ 4.7)