Probably the sexiest AIR app I have seen so far has to be Safron, and I just had to share it before I started licking my screen. It seems it was developed and designed by Samuel Agesilas Pastel, dude well done. Let me know when I can stop licking my screen and have a play.

Saffron was entirely built in Flash CS3 using Actionscript 3.0 and the Elemental SDK and basically shows a good use of flash the AIR platform. I still remember generating .Net class diagrams in Visual studio 2004 and they never really looked like this. I cant tell you how well it works as there is no public release. But some features are (great for an AIR app):

• Wireframe editor allows both developers and/or designers to create wireframes for their projects
• Allows for Actionscript 2, Actionscript 3, PHP4 and Java Code generation directly from the app.
• Sports an entirely customizable UI which contains several dock-able panels that can be placed anywhere by the user.
• Enterprise level capability having the ability to support models with hundreds of classes without performance degradation
• Beautiful UI
• Integrated Version Control
• Sophisticated printing options give you complete control over how your diagram is printed
• Cross Platform on both OS X and Windows
• Full round trip support for both AS2 and AS3 (Java will soon follow), always keeping your model and code in synch every step of the way.

The neat thing to note in the features is that it has version support (might be svn who knows). One feature I would like to see is database intergration to create tables (very handy for Ruby on Rails)