Recently I am working on a Flex project, and found that trace() is not working. Trace() method is equivalent of System.out.println() at Java, without making it work, it's a huge blow to debug on Flex. After some search, here are my foundings:
1. You need make sure your web browser has a debugger version of Flash Player.
Go to here, if you see "Debugger version of Flash Player", congratulations, otherwise, you need go to here to download a debugger version, be aware that Chrome has a build-in flash player, but it's not a debugger version, I have not figured out how to install a debugger version in Chrome yet, but here is a link which might help.
2. You need run your web server in debug mode.
3. You need invoke the web application from Eclipse's debug mode.
After that, trace() will print out whatever you want to see beautifully in your console.
---Update:
Sometimes, you need uninstall your current non-debugger version first before installing debugger version:
http://helpx.adobe.com/flash-player/kb/uninstall-flash-player-windows.html