You can install PBDT just like any Eclipse plug-in via an update site. The location of the update site:
Setup your preferences
Create a new project
Add the PBDT nature
Create a new shader
You can now select the location of the new kernel and fill out the default parameters. The default parameters will be adopted from the preferences.
The PixelBender kernel editor
Now that you have created a shader it will open up in the PixelBender kernel editor. Note also that the kernel has also been compiled into the pbj output directory already. Everytime you save a kernel it will be compiled into that directory.
Create a new parameter
Next choose a spot in the editor where you want to create a new parameter.Simply press Ctrl + Space and choose the createParameter proposal. Now you can step comfortably through all the fields using the TAB key and fill them out.
Now you are set. You can create an ActionScript file that works with the shader. The workflow is simple. You edit the kernel, save it and launch your Flash application. Happy pixel-bending :o)