The Run With Arguments dialog also allows you to set a different file to execute, rather than the saved image. This is useful if your application needs some setups, or if it needs to be invoked by some other program (for example, when it is a dynamic library).
To execute a different file from the one you built, enter the path in the Execute pane.
When the saved image is a universal binary (see Building universal binaries) on an Intel Macintosh computer, the Run With Arguments dialog also gives the option to invoke a saved universal binary as a PowerPC application. To do this, check the Run As PowerPC option (not shown).
LispWorks IDE User Guide (Macintosh version) - 25 Nov 2011