Hey,
just a quick note for everybody (and I know there are lots of you) who’s not seing traces in FDT. This mainly depends on a missing Adobe Flash Debug Player for your system. So grab it there: Adobe Flash Player – Downloads. It’s the Content Debugging one. After the install (and if I remember correctly reboot @Windows) you should see traces in FDT, for sure just as being compiled for debugging.

Btw.: The shortcut for “Debug as FDT Application” is STRG+ALT+D .. wait .. M.