I built my application "wxterminal.app" and, the build appeared to be successful. When I run it - I get a window that says "wxterminal error" and gives me the option to open the console.
In console I see two errors:
2/5/13 9:25:28.495 AM wxterminal: wxterminal Error 2/5/13 9:25:30.585 AM com.apple.launchd.peruser.501: ([0x0-0x22b22b].org.pythonmac.unspecified.wxterminal) Exited with code: 255
I downloaded py2app today and am running python 2.7. The application uses several libraries, wx, pyserial, pyproj....