I'm guessing this may be related to the SDK itself, rather than Maia per say, but since I can't be the only person who's going to run into this in the context of IntelliJ...
I set up a sample module with the Air SDK (1.5.1 AIR, 3.3 Flex), following the instructions on the JetBrains blog. When I try to run the application, the result is as follows:
C:/flex3\bin\adl.exe C:/ei/airtest/air-app.xml C:/ei
initial content not found
The same error occurs when I try to run that command at the command line level. The initial content location defined in the generated XML file is correct, so I'm guessing something internally haywire with Air, but a little out of ideas at the moment.