For troubleshooting one of our interface, I had to run the AX Debugger from AOS Server. And, on our DEV AOS Server, I didn't have the AX install/setup files.
So, I just tried to give this quick workaround a shot hoping that it works and it actually worked!
Copy the "AxDebug.exe" from my local box "C:\Program Files\Microsoft Dynamics AX\50\Client\Bin"
and just paste it in the path on the AOS box where client is installed and this did the trick!
No need to go through the boring installation, Quick and easy :-)