Set up a system where same sources can produce two different applications, one for release and another for testing. The requirement was they have to be able to exist at the same time in device.
Added a second ad hoc distribution provisioning profile with new bundle identifier. Somehow simulator failed to run the application(s) any more.
Close simulator, go to Xcode menu and select "Empty caches..." menu item. Might as well "Clean All Targets" just in case.