The problem I had was that the BBC iplayer window does not appear, there are no messages on the command line to indicate what the problem is. Basically iplayer is attempting to access kwallet but can’t, there is no clue to that.
Follow these instructions on the Adobe website to get the BBC iplayer working. The attached link also contains instructions for gnome users.
Troubleshooting AIR’s Encrypted Local Storage (ELS) on Linux
I also made the following changes to the kwallet configuration…(optional) run kwallet, then clicking right on the wallet icon in the task panel (bottom right of screen in KDE) then select configure wallet, untick close when last application stops using it. (saves you having to keep retyping the wallet password every time bbc iplayer is exited then restarted.
Try installing tweetdeck (another adobe air application) to confirm air is running properly, if you still can’t get iplayer working.