It's conference season at the moment in the northern hemisphere and Adobe has been busy demonstrating some of the features of the next version of Flash, code named "Blaze". Designers are going to love this version as it has the ability to import PhotoShop files while preserving layers, editable text, shapes and effects.
Also included in this new version will be a new convert timeline tweening to script command that'll help create libraries of reusable code that could also be used in Flex. Compiled Flash binaries should also be smaller.
High profile Canadian developer Grant Skinner has revealed that his team and another firm Metaliq have been working on new versions of the popular Flash components, to be rewritten in ActionScript 3. Talking of notable ActionScript coders, Adobe has hired Robert Penner to work with the Flash team - Robert is apparently responsible for the new timeline to code feature in Blaze.
A preview release of Blaze is available from labs.adobe.com, it's actually Flash 8 updated to have a ActionScript 3 compiler - worth it for developers who want to be able to take advantage of some of the new features that Flash Player 9 has to offer like powerful E4X (ECMAScript for XML) which offers a great improvement in XML development and processing time.