Okay I figured it out after some digging into the AIR issue.
For Mac users, if you don't have AIR installed you will need it for CFBuilder. Now the caveat is that AIR installs improperly because once installed uses only System user permissions. By default it does not have Administrator permissions so you need to go and reset the permissions for it to works properly. You will see this if you navigate to /Library/Frameworks/Adobe AIR.framework. This directory needs to be set to Admin read/write perissions and apply to all subdirectories. Then go ahead and install ColdFusion Builder and it installs without any issues. You still need to configure any application templates to have the builder plugin as the default editor if you are installing on top of a pre installation of Eclipse that previously had Aptana and CFEclipse installed. I'm not sure if this is an AIR or ColdFusion Builder bug but it is certainly going to cause Mac users some pain if this issue isn't either reconciled or documented.
ColdFusion Builder is not compatible with CFEclipse and Aptana plugins.
Adobe ColdFusion Builder Team
Now I'm really confused. This occurred after uninstalling both plugins. What do they have to do with my issue?