Does it work with the simulator?
The whole reason for me installing the local builder is that I want to use the Simulator.
You and me had a discussion a couple of days ago regarding Simulator and hosted versus local builder, and you said the Simulator would work fine with the hosted builder. So I started Simulator on the mac and pressed run (like you wrote), and nothing happened.
(I didn't connect B4i with the mac in any way, which feels a bit weird, but considering I don't connect B4A to the emulated Android device either, I thought that it's probably being handled by some invisible network magic.)
Then, in Tools -> Device IP Address I saw an entry for Simulator, so I selected that. When I did that B4i said that Simulator is only supported when using a local builder. At that point I didn't have the energy to start a new thread to once again try to understand under what circumstances Simulator works. So I gave up and decided to just install local builder.
So, to answer your question, as far as I know it doesn't work with the simulator. I haven't tried to download the build from the hosted builder, and doing the whole unzip-thing though. Is that what you want me to try?