Developers who install the Powerbuilder package get the runtime at
C:\Program Files (x86)\Appeon\Common\Powerbuilder\<runtime version>
It seems, if the computer has never had the Powerbuilder IDE installed ie, most client computers, the Powerbuilder Runtime Installer will install to
C:\Program Files (x86)\Appeon\Shared
NOT
C:\Program Files (x86)\Appeon\Common
The compiler constructs the application.xml file when building to point to the IDE runtime path, not the one with Shared in it.