I'm using FlashBuilder 4 Eclipse plugin trial version.
I can build the .swf file in my Flex project.
My problem: I do not get the trace output. I do not see any console where the trace() function printed to.
Is this the limitation of the trial version (disabled trace() function), or I wasn't looking in the right place?
It will only trace to output on a debug run. Now you can use a log file, which you would have to set in the mm.cfg file. I don't remember how to do it off the top of my head, but you should try googling "Flex Logging" or "Flash Logging".