From trying to look up this error, it seems like it could be related to the device you’re trying to package for not being registered in your provisioning profile. Could you check to make sure that it’s in there? There have also been reports of people having this error with jailbroken phones, just not with the editor in particular.
Could you try packaging the project instead of launching on and then installing it to the phone via iTunes? It may be able to give a more descriptive error.