Throwing the baby out with the bath water
Pro tip for Adobe AIR developers: Don't pick 'bin-release' as the folder to export your .air files!
I just spent a full day trying to figure out what was wrong. I'm so used to other Flash Builder app where when you export a release build, it puts it in a 'bin-release' folder under your project folder.
So when I was building an Adobe AIR app, I was ready to build an .air file, so I did an export release build, and for my destination, I put "bin-release/MyApp.air". And then I couldn't figure out why, but everytime I'd build, I'd see the 'bin-release' folder get created, and then immediately get deleted again when the build was over! I had no .air file!
Apparently for AIR projects, the bin-release folder is special; it is only created when doing a release build and then deleted as if it were a temp build folder. Placing my .air file in there meant that it, too, got deleted along with the trash.