Thanks for your quick reply. This log seems more complete. Hopefully it can help:
2012-11-15 23:11:28 *Tunnelblick: OS X 10.8.2; Tunnelblick 3.3beta21a (build 3114.1)
2012-11-15 23:11:28 *Tunnelblick: Attempting connection with riseup; Set nameserver = 1; monitoring connection
2012-11-15 23:11:28 *Tunnelblick: /Applications/Tunnelblick.app/Contents/Resources/openvpnstart start riseup.ovpn 1337 1 0 0 0 49 -atADGNWradsgnw 2.2.1
2012-11-15 23:11:29 *Tunnelblick:
Could not start OpenVPN (openvpnstart returned with status #242)
Contents of the openvpnstart log:
OpenVPN returned with status 1, errno = 2:
No such file or directory
Command used to start OpenVPN (one argument per displayed line):
/Applications/Tunnelblick.app/Contents/Resources/openvpn/openvpn-2.2.1/openvpn
--cd
/Users/goethefaust/Library/Application Support/Tunnelblick/Configurations
--daemon
--management
127.0.0.1
1337
--config
/Users/goethefaust/Library/Application Support/Tunnelblick/Configurations/riseup.ovpn
--log
/Library/Application Support/Tunnelblick/Logs/-SUsers-Sgoethefaust-SLibrary-SApplication Support-STunnelblick-SConfigurations-Sriseup.ovpn.1_0_0_0_49.1337.openvpn.log
--management-query-passwords
--management-hold
--script-security
2
--up
/Applications/Tunnelblick.app/Contents/Resources/
client.up.tunnelblick.sh -m -w -d -atADGNWradsgnw
--down
/Applications/Tunnelblick.app/Contents/Resources/
client.down.tunnelblick.sh -m -w -d -atADGNWradsgnw
--up-restart
Contents of the OpenVPN log:
More details may be in the Console Log's "All Messages"