This was placed on the subscriber only forums but you do not have to be a subscriber to use our new third party tool!
Check out our video: http://www.youtube.com/watch?v=fZBjw_8100o
Transmit just about any type of supported event from your Android/iOS device to the Corona® simulator to speed up your development time. Here are some of the features:

Ability to transmit events from device to simulator in realtime. Also allows you to record macros of any combination of events with frame by frame accuracy. Imagine how much time you would save if you didn't have to go for a walk every time you wanted to test your GPS/Maps enabled app OR imagine testing your accelerometer/gyro based app without taking your hands off the keyboard to shake your phone. And better yet, no more building and transferring your code to the device to debug, just relaunch!

• Multitouch- you can debug multitouch gestures and game mechanics. Getting all those touch id's and phases just right takes patience, now you can do it on the simulator. You can even record your zoom/rotate gestures for even faster development.
• Accelerometer- Debug tilt sensitivity and update refresh rates directly from the simulator, no building required! Record a macro of all the tilt moves only once to enhance your productivity.
• Gyroscope- So you want to make a gyro enabled application but your phone doesn't have a gyro? No problem! use one of our pre-recorded macros and your code won't know the difference.
• GPS- Use a pre-recorded macro of our employees driving to work and you can see how easy it is to debug your gps enabled app. Don't forget, any of these can be streamed in realtime to your simulator or recorded offline with your handset.
• Compass- Spinning around the room can cause vertigo and fainting. Record a macro next time so you will only have to do it once, and definitely don't keep re-building and re-spinning.
• Hardware Keys- Don't have an Android but want to support hardware keys? No problem, just use one of our macros.
• Orientation events- Ever fail to consider how vigorous accelerometer play can trigger orientation events? now stay one step ahead and debug these in the simulator.

Effortless integration

• Simply add:  ultimote = require "Ultimote"; ultimote.connect();
• Next, click Auto-connect in the Ultimote App, IPs/Ports are found automatically.
• Ultimote will find all of your event listeners and fire them accordingly. No need to do anything different for debug vs production builds except comment out one line. This is truly a drop-in solution.

Send Screenshots and Screen Sync to Device

• Real time screen synchronization allows select elements of your scene to be transmitted to your connected mobile device. This will allow you to interactively debug multitouch and other events. Send any display object to the device by simply setting one field: obj.ultimoteObject = true
• Alternatively, you can even transmit entire screenshots periodically to the mobile device with just one line of code: ultimote.autoScreenCapture()

Relavent System Level Functions Forwarded To Device

• It does not make any sense to call system.setAccelerometerInterval from the simulator right? With ultimote these commands are sent to the connected mobile device instead of being ignored by the simulator.
• system.getInfo parameters also reflect the connected mobile device instead of the simulator allowing you to test various things such as language and locale changes. This also eliminates any "Not Supported In Simulator" warnings thrown by Corona®.

Try Corona® Ultimote Today

• Download the demo directly from http://www.mygamedevelopers.com/Corona-Ultimote.html
• Currently available at the Android store. Coming soon to the Apple Store: https://market.android.com/details?id=com.MYDevelopers.Ultimote&feature=search_result