Nightly Build 2196 is out now.
The exec command is a bit more user friendly when the command to run is unable to be executed, which is fairly frequent on OS X given the way the system handles the PATH. You now get debug output with the directory the command was run from, as well as the PATH that’s in effect.
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Just to report that I don’t actually have zencoding installed. But anyhow, I have basically removed everything and installed from Official Version again and updated to the nightly. And I am not able to reproduce this problem again.