From jbds user:
"JBoss Developer Studio 4 Beta and Helios in general with JBossTools 3.2 a seam war project does not get built correctly it treats the jboss-seam-2.2.1.CR1.jar, bsh-2.0b4.jar, mvel2-2.0.10.jar and itext-2.1.2.jar as modules and consequently does not but the libs in the WEB-INF/lib directory. This issue is not appearing when building an EAR but then we don't get hot deployment."
Needs to confirm if this is still happening or not.