Hmm, odd. I'm running OSX 10.8.1, you should see printed in the log just after the Python version something like:
>>> # Adding python module path: /Users/keith/Documents/C++/glade4_mac64.
or it it fails, a message like
>>> # Cound not add python module path: …
Can you try:
import sys
print sys.path
?
Also you might want to try re-downloading th mac version in case you got a slightly older version of 4.3.11, it was updated shortly after initially becoming available.