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Issue:
Error message below appear when running an AIR 2 application.
An ActionScript error has occurred:

• VerifyError: Error #1014: Class IIMEClient could not be found.
  at flash.display::MovieClip/nextFrame()
  at mx.managers::SystemManager/deferredNextFrame()[E:dev4.0.0frameworksprojectsframeworksrcmxmanagersSystemManager.as:267]
  at mx.managers::SystemManager/preloader_preloaderDocFrameReadyHandler()[E:dev4.0.0frameworksprojectsframeworksrcmxmanagersSystemManager.as:2460]
  at flash.events::EventDispatcher/dispatchEventFunction()
  at flash.events::EventDispatcher/dispatchEvent()
  at mx.preloaders::Preloader/timerHandler()[E:dev4.0.0frameworksprojectsframeworksrcmxpreloadersPreloader.as:488]
  at flash.utils::Timer/_timerDispatch()
  at flash.utils::Timer/tick()
  

Reason:
You must update your application descriptor file to the 2.0 namespace in order to access the new AIR 2 APIs and behavior. If your application does not require the new AIR 2 APIs and behavior, you are not required to update the namespace from 1.x based namespace.

Solution:
To update the namespace, change the xmlns attribute in your application descriptor to: http://ns.adobe.com/air/application/2.0

Open your application descriptor file (-app.xml), edit the 2nd line.

• <application xmlns="http://ns.adobe.com/air/application/1.5.3">

Change the value for xmlns to http://ns.adobe.com/air/application/2.0

• <application xmlns="http://ns.adobe.com/air/application/2.0">

Additional Information:
Adobe AIR 2 – Release notes for Adobe AIR developers