I'm having the same problem. A Starling app of mine worked fine on 4.4 and below, but on 5.0 it can't find context. I'd also like to add that a native AIR app I made using GPU-mode and cacheAsBitmapMatrix that used to run 60fps on 4.4 now runs really choppy. It seems that AIR on 5.0 can't access the GPU at all?
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