When I try to debug my Flex application (which contains nothing but a canvas) I get this error message:
Launch failed: /sdk/4.0.0/bin/adl: cannot execute
So I can't help but wonder if there may is a specific version of the skd for OSX?
Looks like botched up permissions.
Is this the flex SDK that shipped with Builder or are you pointing to a different one (even if it might be the same version)?
Try doing a chmod +x in /sdk/4.0.0./bin/ and /lib folder.
To add: if you are overwriting with an AIR SDK, then yes, there is a mac specific version. See http://www.adobe.com/products/air/sdk/
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