The builder has been tested successfully up to PhoneGap 2.3. I'm not seeing where the bin directories have been moved in 2.3. Even in the most recent 2.4 release candidate code, the bin directories are where they should be. Check out this link to the phonegap github repo which shows the scripts in the android directory like all the other versions:
As far as the -init-android-internal target not being called, it's probably because you have the _android.built and/or _android.deploy files in the root of your sencha app. Those need to be deleted before every build for it to run again. If you don't want to do that manually or make your own script, I ship a proxy to the sencha command that will do it for you.
Sorry this is flood of info coming at you here. If this doesn't answer your questions, please post your cordova.properties file so I can take a look.
Again, thanks for using the project.