Squiddler has done some really cool stuff on the Flash platform, most of his blog posts are worth reading but check out these ones specifically:

Bumblebee: http://www.squidder.com/2008/11/14/bumblebee-the-easiest-path-from-excel-to-xml/ This AIR application is pretty cool - it allows you to take excel files and transform them into xml files by providing a simple template. Could be useful in those instances where we get the client to fill out a spreadsheet of information.

Real-time face recognition: http://www.squidder.com/2009/02/26/realtime-face-detection-in-flash/

AR drum kit: http://www.squidder.com/2009/03/03/augmented-reality-drum-kit/

Other posts at: http://www.squidder.com/