Problem with moving to another box. FB4

I have been running FB4 for quite some time by now with no real problems. I also have FB3 Pro installed.

I am moving all my projects to new box that runs Windows 2008 Server. I have installed FB3, and then FB4.

Now when I am opening properties of my project in FB4, under Flex Compiler I see red cross with ''Flash Builder 4 only supports Flex SDK 3.0 or higher''.

What exactly that means?

Please help.

Problem with moving to another box. FB4

Needed to reconfigure SDKs.