Launching external applications from AIR is not supported.
Here are a few non-Adobe resources that are looking into bridging that gap:

http://www.merapiproject.net/
http://aperture.fluorinefx.com/
http://www.mikechambers.com/blog/2008/01/22/commandproxy-its-cool-but-is-it-a-good-idea/
http://www.jeffryhouser.com/index.cfm/2008/4/22/Using-AIR-to-launch-other-applications


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