I am submitting a bug report post because I could not find a thread for 'file does not exist'.

I've been using 1.8.8 arduino and teensyduino 1.45 for quite a while with no big issues.
I upgraded to 1.46 and had this error compiling a program that compiled fine on 1.45:
.. \\.../tools/arm/bin/(build.command.linker)
"file does not exist"
This happened late in the compile process. It kinda looks like the actual linker did not get inserted in the compile string, just the variable name.
I tried reinstalling 1.8.8 and 1.46 but it did not help. When I tried to reinstall 1.45 over 1.46 it would not let me saying that there were arduino version errors in the ../lib/version.txt file. I checked but it was fine with the string '1.8.8'.

I finally went back to 1.8.7 arduino and teensy 1.45 and things work again.

I'm running Windows 7 with Kapersky (file protection was temp off to check if it was part of the problem, it was not).

Thanks to anyone who can help decipher what went wrong.