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Zoom in the editor doesn't work with Alt+MouseWheelUP/DOWN anymore. It just scrolls editor. If I find in Ctrl+I Zoom Text In/Out they work as expected. May be something with key bindings?
Could it be caused by the same reason as in http://hg.netbeans.org/core-main/rev/97d154c08b2e?
I've tried on current dev trunk and it seems to work OK. My system is Kubuntu Linux. If the defect still happens on your machine, please provide window manager/distribution info.