I'm just re-posting my answer here for future reference for others:
I have included a screenshot of the demo application successfully building here, along with the console output in the bottom right corner.
I built the project using the “play” symbol in the top left corner, and the console output comes out in the “All Output” window in the center bottom of the application.
I also had “demo_lib” as the target project in the top left corner.
I followed the steps another user in the forum (iamlindoro) used to get the project to build:
MacOSX 10.8 (Mountain Lion) and ANT SDK
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