Adobe has worked with Apple to test that its CS3, CS4, CS5, and CS5.5 products are compatible with Mac OS X Lion (V10.7). Adobe has posted its test results at http://kb2.adobe.com/cps/905/cpsid_90508.html.
Here is a summary of the known issues:
• Adobe Flash® Catalyst® CS5.5 and Adobe Flash Builder™ 4.5 software are generally compatible with Mac OS X Lion; however, we have discovered issues that may degrade the user experience or affect use of the products. We do not recommend that these customers upgrade to Mac OS X v10.7.
• Flash Catalyst CS5 and Flash Builder 4 will not work on Mac OS X v10.7. Adobe does not intend to update either of these products for use on Mac OS X v10.7. Adobe recommends that customers using these versions not upgrade to Mac OS X v10.7.
• Adobe Acrobat and Adobe Reader® currently support viewing PDF documents both inside and outside the Apple Safari browser on Mac OS X. Adobe Reader plug-in and Acrobat plug-in are not compatible with the Safari 5.1 browser, which will ship with Mac OS X 10.7 and for 10.6 in July 2011. Adobe Reader and Acrobat will continue to work as standalone applications on Mac OS X 10.7 and 10.6, and will render PDF documents outside of the browser. In addition, Safari 5.1 renders PDF documents natively.