TiLauncher is a free, lightweight build utility and app console for Titanium SDK and PLATINO projects.
Launch apps in the Simulator and build for device (testing and deployment).
Save build settings on a per-project basis (automatically reloads most recent project upon launching the app).
View console/logcat output while your app is running (in the same window)
Develop without needing the heavy-weight Titanium Studio (Eclipse) or the advanced Titanium Command-Line Interface to test apps or make builds.
More Details Here