Teensy 2.0 on Mac OSX 10.7

I have a Teensy 2.0 that I haven't used in about 2.5 years. When I plugged it into some servos, they still centered so I thought "great!" (the code on there controlled a cat toy over Skype FWIW). I want to put some new code on there from my sexy new 10.7 Macbook. But... I get errors.

If I try uploading from Arduino.app with teensy.app running in verbose mode I see
20:48:29: remote connection closed
20:48:29: remote connection opened
20:48:29: remote cmd: "status"
which repeats at 10hz for until
20:48:35: remote connection closed
The Arduino window says:
"Please press the RESET BUTTON on your Teensy to upload your sketch. Auto-reboot only works if the Teensy is running a previous sketch."
I've tried every combination of power and reset I can think of but this is what I get.

I do think I put a good effort into looking for solutions, I'm sorry if I'm mistaken.
I'm a little frustrated by the apparent age of the documentation here. The guide Arduino - Home
talks about USB drivers that no longer seem to exist. I suspect that might be the issue.

I would be ever so grateful for some debugging help. If the right answer is "buy a new one" I will accept that, but I'll a somewhat disappointed in arduino as a hobby chipset, and be significantly less willing to use them in any professional capacity (b/c assuming I didn't do something to damage the chip, this seems to be a fairly standard maintenance situation).

As hostile as that might have sounded, It's just that I really did go out on a limb at work about using Arduino over PIC, and I don't want to have to eat crow.

Thanks all!

I think, even on a Mac, the Teensy requires a loader application ... let's see ... Teensyduino - Add-on for Arduino IDE to use Teensy USB development board ... Title ... yes.

Does the loader application start?

tom3118:
As hostile as that might have sounded, It's just that I really did go out on a limb at work about using Arduino over PIC, and I don't want to have to eat crow.

Just a minor point. The Teensy (which is a great board, in my opinion), is not an Arduino.

You chose a Teensy over the PIC.