Recently i was involved in a project that uses AdobeAir for Linux. As air is still in Alpha for Linux there are some bugs...
A major problem we ran into was that in Fedora 9 we could not get Adobe Air to play sound. The fix is simple.
Install the package "libflashsupport"
yum install libflashsupport
Sound now works for us in Fedora 9x as well as Ubuntu. However, there are issues with playing music via VLC/other utilities. But for our needs this isnt an issue. This problem however, will have to be fixed by adobe!