From Adobe's John Nack:
We've just posted a GPS Data panel (download for Mac, Win) that extends the File Info dialog in CS5 applications (Photoshop, Bridge, Fireworks, Flash, Illustrator, and InDesign). The panel (see screenshot) offers a simple way to see parameters like latitude, longitude, and altitude.
On the Mac, make sure you install into the main Library path, not the user-specific one. (Somehow I often stumble on that one.)
Please make sure that the package files ("bin" and "manifest.xml") go into a folder called "gpsData."