There is a known issue with Lion 10.7.2 and Adobe AIR 3.0. When launching Master Tour you may see an error explaining "This application requires a version of Adobe AIR which cannot be found" You may also see alert messages when launching Master Tour regarding windows being restored.
Workarounds for this issue:
Workaround 1: (Recommended) Go to System Preferences -> Energy Saver. At the top of this dialog is a checkbox for "Automatic graphics switching" If you uncheck this box the issue should be resolved.
Workaround 2: If you do not want to disable graphics switching, AIR 3 is known to run correctly as long as you either have Chrome or FireFox web browser open while you launch AIR apps. It's not necessary that you use Chrome or FireFox as your main browser, but you will have to make sure you have one of these browsers open whenever you open Master Tour.
Workaround 3: If neither of the above are acceptable to you, you can downgrade Adobe AIR to version 2.7. You will be occasionally prompted to upgrade AIR, however do not do so until an update for either Adobe AIR or OSX has been released.