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This works fine with 1.5.0_04. The program fails on line 295 of the build-impl.xml generic file where it says: <nb-run jadfile="${dist.dir}/${dist.jad}" jarfile="${dist.dir}/${dist.jar}" jadurl="${dist.jad.url}" device="${platform.device}" platformhome="${platform.home}" platformtype="${platform.type}" execmethod="${run.method}" securitydomain="${evaluated.run.security.domain}" commandline="${platform.runcommandline}" classpath="${platform.bootclasspath}:${dist.dir}/${dist.jar}" cmdoptions="${run.cmd.options}"/> It's obviously a security issue. Switching back to version ...04 fixes it, but it's not a permanent solution in light of the changes.
I'm running jdk1.5.0_06 without any problems. Is it in your local setttings?
Closing as it works for me, please reopen if you find it again and with some more details. Is ther any error message it fails with? You may also set the Verbose mode for Ant output, do it using Tools/Options.