
Changing Air version in descriptor to 1.5.3 does not make any difference. Also removing Flash Builder workspace was not a solution.
After two days I finally foud way to fix this problem.
- Ensure that you have newest Flash Player with debugger installed in your browser (I am using Firefox)
- Set new Flex SDK 4.0.1 to default
- Create new Flash (not Air) project, in main MXML add one button with some trace(event) on click event
- Run your application in debug mode, running slider in Flash Builder will probally stop at 57% and you will not see any trace on button click
- Click right mouse button and select Debugger from popup menu
- Select IP address radio and enter "127.0.0.1"

- You should now see your trace message on mouse click
- Also AIR apps should now work with debugging