Aaron, Rui,
I have added some information about debugging with Console.app and TextMate to my blog:
http://bomberstudios.com/2007/03/14/how-to-use-consoleapp-for-flash-debugging/
Also, a new 'trace: console' option has been added to mtasc.yaml.
Feel free to add your comments, and let me know if it works for you.
Again, thanks for your feedback and suggestions :)