Text Layout Framework is a library to extend Flash capabilities of text displaying where HTML is better.

It’s still in beta, but you can use it with Flash CS4, Flex (requiere versión 3.2 SDK ó 4.0 SDK) and AIR.

A simple example:

Click with the right button to obtain source code.

The Flash Configuration Panel apply security policy about swf displaying.

The panel is not configurable and if the area is too small then it can be hidden and the user can’t use it. Minimum dimensions are: 240px width, 140px height.

Flex have a special relationship with Flash, as they manage the same SWF format, and they can combined to produce great results. To make possible that Flex interact with Flash is necessary to load Flash swf in a Flex container (Image, SWFLoader) and set the communication using LocalConnection class.

Click with the right button to obtain source code.

Both Flex and Flash can be producers and recipients of the conection.

Function to change ‘wmode’ parameter of the swf wrapper.

function changeWMode(id, wmode) {
	  var el = document.getElementById(id);
	  var child = null;
	  var param = el.createElement('param');
	  param.name = 'wmode';
	  param.value = wmode;
	  el.appendChild(param);
	  for (var i=0, end = el.childNodes.length; i < end; i++) {
			child = el.childNodes[i];
			if (child.nodeName === 'EMBED') {
				  child.wmode = wmode;
			}
	  }
}

Actually, avoid to use wmode because of errors it generate.
Read related post with wmode.