I have been developing an app for 1 or 2 weeks now and just yesterday I have updated my iPhone 5S to the iOS 8 GM. Everything worked fine and I could test on my device as we
Updated answer for Xcode 7: Tapping the app no longer works (as of beta 1 it just displays an "untrusted enterprise developer" message with only a Dismiss button).
To fix, open the Settings app, go to General / Profiles, and you'll see your profile. Mark it trusted and things should start working normally again.
Updated For iOS 9.2.1 and Xcode 7.2.1:
Goto: Settings > General > Device Management > Select App from Developer Apps > Trust App.