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It sounds like you *may* have an old beta version of Flash Catalyst on your machine-- you can check the version number by choosing "About Flash Catalyst" from the Flash Catalyst menu. The current version will say: Adobe Flash Catalyst CS5, version 1.0.0...
If you do have a beta version, check out this FAQ and see if it resolves the problem:
You'll want to remove all prior installations of Flash Catalyst.
All of the Adobe products have their own uninstaller script, so you will want to run that instead of just dragging the program folder to the trash.
Thanks Kim...you nailed it. I was opening my CS5 version but I still had the beta version on my machine as well . Now that I deleted the beta version the CS5 version looks correct. I appreciate the help.
Super, glad to hear it! Thanks for posting.