If you start Daily Build 2014.2156 using Corona Terminal, you may see an error which starts with:
2014-01-28 10:58:24.691 Corona Simulator[74148:707] \*\*\* -[\_\_NSPlaceholderArray initWithObjects:count:]: attempt to insert nil object from objects[0]
You can safely ignore this and open projects as usual. It’s a side-effect of a fix for paths with spaces in them and it will be fixed in the next Daily Build.