Mike Chambers announced today that pieces of the next version of AIR, version 1.5 ("Cosmo"), are now available with the nightly Flex SDK builds. Mike also includes a list of the new features in AIR 1.5 in the blog post.

It is important to state that this is still in a pre-release state. Here is what Mike states about the builds:

The SDK contains the command line tools and libraries to author, test and package AIR files. It does not include a runtime installer or updated documentation. There is currently support for Mac and Windows, but not support for Linux (yet). However, expect more news on Linux very soon.

Read more from David Tucker.