Flash Professional has this really nifty built-in mechanism for updating the AIR SDK straight from the application menu. Specifically via Help > Manage Adobe AIR SDK. Flash Builder, however… has nothing of the sort and requires a rather obscure workflow to achieve an update of the built in SDK.
Since Adobe doesn’t seem interested in updating Flash Builder 4.7 (even though it remains part of the core Creative Cloud offering) – it falls to the community to build upon and extend what many consider a pretty solid IDE for Flash Player and AIR developers.
I want to highlight an effort from Anton Azarov called the Manage Adobe AIR SDK plugin. It effectively provides the same service included in Flash Professional… but in Flash Builder. Really quite useful considering the amount of new AIR SDK releases recently!