EDIT//
Final patch available at:
http://support.frictionalgames.com/entry/88/
//EDIT
OK, here's what I've found out about the launching issues.
I downloaded the penumbracollection-1.0.dmg from the same place all of you have been getting it, and ran it on my Macbook pro (ATI video card). which is *NOT* my primary development system (just to be sure my existing environment wouldn't screw things up)
And, guess what, I ran into the same issue.
The apps wouldn't run, or would sometimes run, but then fail the next time.
If i moved all the apps to another dir and back again, it would work for one run.
Very strange.
I moved them all out of the way and copied over my pristine copies from the other system (where I made the DMG out of to begin with). Those worked.. They actually launched from the collection launcher as well.
I did comparisons of those and the ones from the DMG... NO DIFFERENCE!!!!!
hmm... Blew out my Launch Services Cache (you can google for that one)
no difference.
So, I threw away the whole installed directory and restarted the system.
Re-installed from the DMG, and everything worked fine out of the box w/o any mucking around
Now, what I *THINK* is going on here is some weird issue with the Launch Services in OS X and the "quarentine" flag that OS X puts on files.. (You know that dialog that says "hey you downloaded this from the internet, are you SURE you want to run it?")
So, first I'd suggest restarting your system to see if that fixes the issue.
If it doesn't follow this page.
http://www.thexlab.com/faqs/resetlaunchservices.html
and see if it fixes it.
If it STILL doesn't, follow that page again and "delete" the installed Penumbra Collection folder.
Reboot.... Reinstall.. and see if it works.
And Please report back on this thread what did work.