Can't set Developer Root in LiveCode Prefs

[Graham Samuel]

I am stumbling towards developing my first IOS app, but I am having huge difficulties getting started. First, I couldn't update XCode to the version that includes IOS 5 (and Apple were totally unhelpful). Thanks to  Colin Holgate <coiin at verizon.net> on this list, I did the update by getting rid of the previous version and getting the latest from the Apple App Store, then running Install XCode twice (!!!) to make sure that there's a version of IOS 5 in there somewhere. I have the following System Information:

  Version:	4.2.1 (4D502)
  Location:	/Developer
  Applications:
  Xcode:	4.2.1 (834)
  Instruments:	4.2 (4233)
  Dashcode:	3.0.2 (336)
  SDKs:
  Mac OS X:
  10.6:	(10K549)
  10.7:	(11C63)
  iPhone OS:
  5.0:	(9A334)
  iPhone Simulator:
  5.0:	(9A334)

So, there it is. Next I tried to follow the RunRev lesson "How do I become an IOS Developer". This tells you to set the location of the developer for IOS 5.0 root in the preferences of LiveCode (I'm using 5.0.2 on a Mac with Lion 10.7.2). It suggests that this will be in

/Developer/Platforms/iPhoneSimulator.platform/Developer/Applications

Well, this directory exists (and contains one item 'iOS Simulator' 5.0), but I keep getting this error message from LC:

"The chosen folder is not a valid iOS SDK for 5.0 and later. It must be one that ships with XCode 4.2 or later." My version of XCode is 4.2.1, BTW.

I am not very clear what LC is looking for but I've tried choosing other parts of the structure with no result.

So, something is missing or I'm doing something wrong. Since every member of this list who has worked on an IOS project must have passed this point, I feel an idiot.

I hope someone can help.

TIA

Graham