Problem with opening up Torque2d.xcodeproj

I've searched for a similar problem on the forums, but haven't found anything. I'm just going through the tutorials and trying to get everything up and running. When I try to open up the project in the Xcode_iPhone directory, I get the following error:

Torque2D.xcodeproj cannot be opened because the project file cannot be parsed.

Just out of curiosity I tried opening up the Torque2D project in the XCode folder and didn't have any problems modifying and building it. Am I doing something wrong or misinterpreting the tutorial in someway? Would appreciate any insight.