i am having the same problem .... when i updated the launcher to 1.07 it has stopped working completely. It seems that no mods are being downloaded. FML is failing to work so it just starts vanilla minecraft
i cannot seem to get the 1.06 launcher back (despite backups) so now FTB is just a complete fail. Please fix this issue ASAP
Edit: I have wiped all files 4 times ... and tried every possible combination of option adjustments. Still nothing
Edit 2: ok i have managed to find a work around.
*copy your Saves folder from FTB/FTBBETAA/minecraft if you havent already*
when trying to install the mods it gives you a link in the console to a ftbbetaa.zip file .. download this file separately through your browser.
1. remove your FTB directory
2. launch the FTB launcher and choose force update in options.
3. close the "downloading mod pack" window when it opens.
4. minecraft.jar (and other files) should download to the bin folder
5. close FTB launcher
6. open the ftbbetaa.zip file you got earlier
7. extract all files in the .minecraft directory to your FTB/FTBBETAA/minecraft folder
8. extract the instMods folder to your FTB/FTBBETAA folder
9. replace your Saves folder in FTB/FTBBETAA/minecraft
10. run FTBLauncher again
11. FML should launch and tidy thing up
12. FTB launches with Forge and Mods loaded correctly now
13. we all play Happily Ever After