Just installed Flash CC and had Xcode 5.x already installed. Tested the iOS simulator on Xcode 5.x and it worked fine. In preparation for updating my app for iPhone 6, I updated Xcode 5.x to Xcode 6.1 today and the iOS simulator no longer works with error "unable to install the application on iOS simulator" when I try to test the movie in Flash CC. Hoping this is fixed soon.
Running:
Flash CC 14.1.0.96
Xcode 6.1 6a1052d