I just upgraded from Xcode 6 Beta 2 to Xcode Beta 3 and am now getting the following warning when building my project:
ld: warning: relocatable dylibs (e.g. embe
You see and add them on the project page when you select the target: tab General->Embedded Binaries (and they then appear in Build Phases->Embed Frameworks).
Embedded frameworks for OSX were available in Xcode 5, but not for iOS.
WWDC session regarding new features in Xcode 6 specifically promised dynamic frameworks for iOS 8 (someone please add citation when developer center comes back online). So far, with all Xcode 6 betas, I have had no problems compiling and debugging an app with frameworks on iOS 7.
But since this wasn't promised, frameworks for iOS7 is something you cannot depend on (e.g. this may stop working in later betas; an app with embedded framework for iOS 7 may be rejected, etc.). That may explain why they added an explicit warning.
There's not much you can do if this feature turns out to be indeed unsupported, other than remove the frameworks from the target and use static libraries as we did with Xcode 5. Or go the iOS8-only route.