EDIT: Looks like a new build-tools version (21.0.2) has been released that addresses this issue! The best fix is now to update to this version, rather than revert to an older version or swap out aapt.exe files.
My short answer: use an older version of the Android SDK Build-tools, for now. There's likely a bug with including certain types of files in the assets directory in versions 21 and 21.0.1 of the build-tools--or at least that's why I was receiving the error messages after updating.
My long answer:
I just spent the better half of this morning with the same issue. Frustratingly enough, only two out of three of the projects I work on presented it, but it at least gave me a starting point. I found that the failing projects included a zip file in their assets folders while the working project did not. Removing this zip file allowed all apps to run, but that's obviously not a good enough solution.
I'm going to go out on a limb here and assume that there's a bug in the newest Android SDK Build-tools release (revisions 21 and 21.0.1) that fails to properly build the APK if there's a zip file in the assets folder with certain properties (I didn't research enough to figure out the exact triggers). Just zipping an empty text file wasn't enough to trigger this, but I managed with a small 13KB zip file. I don't know whether any other types of files cause this.
For an immediate fix I just went back to using an older version of the build tools. As seen here, that involves modifying the project.properties
file to include sdk.buildtools=20
(for Eclipse users) or the build.gradle
file to include buildToolsVersion "20"
to the android
section (for Android Studio users). Version 20 worked to get me back up to speed, while version 21 breaks my apps. Your current list of installed Android SDK Build-tools versions can be seen in the Android SDK Manager, under Tools.