alexwhittmore has posted a detailed tutorial highlighting an open source IDE and toolchain for the STM32F4 dev board on Max OSX Lion. He uses Indigo R Eclipse IDE for C/C++ Developers (Mac Cocoa 64-bit), Sourcery CodeBench Lite Edition, STM32F4 DSP and standard peripherals library and the STM32F4 Discovery board firmware package.
Check out Alex’s website for links to these software tools and detailed instructions.