Flash Builder 4.7 crashes on startup

[marzepani]

Flash Builder 4.7 does not start anymore.

System: OS X Yosemite 10.10.1

Java: version 1.8.0_25

License: Creative Cloud Membership

Console output:

07/01/15 12:21:25,876 Adobe Flash Builder 4.7[19199]: WARNING: The Gestalt selector gestaltSystemVersion is returning 10.9.1 instead of 10.10.1. Use NSProcessInfo's operatingSystemVersion property to get correct system version number.
Call location:
07/01/15 12:21:25,878 Adobe Flash Builder 4.7[19199]: 0   CarbonCore                          0x00007fff92f12dc3 ___Gestalt_SystemVersion_block_invoke + 113
07/01/15 12:21:25,878 Adobe Flash Builder 4.7[19199]: 1   libdispatch.dylib                   0x00007fff89667c13 _dispatch_client_callout + 8
07/01/15 12:21:25,878 Adobe Flash Builder 4.7[19199]: 2   libdispatch.dylib                   0x00007fff89667b26 dispatch_once_f + 117
07/01/15 12:21:25,878 Adobe Flash Builder 4.7[19199]: 3   CarbonCore                          0x00007fff92ebb4da _Gestalt_SystemVersion + 987
07/01/15 12:21:25,879 Adobe Flash Builder 4.7[19199]: 4   CarbonCore                          0x00007fff92ebb0c7 Gestalt + 144
07/01/15 12:21:25,879 Adobe Flash Builder 4.7[19199]: 5   Adobe Flash Builder 4.7             0x0000000100001a5d main + 50
07/01/15 12:21:25,879 Adobe Flash Builder 4.7[19199]: 6   Adobe Flash Builder 4.7             0x00000001000010d5 _start + 227
07/01/15 12:21:26,132 Adobe Flash Builder 4.7[19199]: Unrecognized Java VM option ignored: -Xdock:name=Flash Builder
07/01/15 12:21:26,132 Adobe Flash Builder 4.7[19199]: Unrecognized Java VM option ignored: -Xdock:icon=../Resources/fb_app.icns
07/01/15 12:21:26,132 Adobe Flash Builder 4.7[19199]: Unrecognized Java VM option ignored: -XstartOnFirstThread
07/01/15 12:21:37,280 AdobeCrashDaemon[19204]: WARNING: The Gestalt selector gestaltSystemVersion is returning 10.9.1 instead of 10.10.1. Use NSProcessInfo's operatingSystemVersion property to get correct system version number.
Call location:
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 0   CarbonCore                          0x00007fff92f12dc3 ___Gestalt_SystemVersion_block_invoke + 113
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 1   libdispatch.dylib                   0x00007fff89667c13 _dispatch_client_callout + 8
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 2   libdispatch.dylib                   0x00007fff89667b26 dispatch_once_f + 117
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 3   CarbonCore                          0x00007fff92ebb4da _Gestalt_SystemVersion + 987
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 4   CarbonCore                          0x00007fff92ebb0c7 Gestalt + 144
07/01/15 12:21:37,281 AdobeCrashDaemon[19204]: 5   AdobeCrashDaemon                    0x0000000100002e69 -[MyDaemon GetOSVersionMajor] + 33
07/01/15 12:21:37,282 AdobeCrashDaemon[19204]: 6   AdobeCrashDaemon                    0x0000000100002d4a -[MyDaemon isRunningOnLeopard] + 25

Supposedly, Flash Builder 4.7 requires Java 1.6. Can this be the reason? How to run Java 1.6 and 1.8 in parallel on a Mac?