We've just published on our Comtaste's blog a post about our first experiment with the Alchemy and Flex:
Alchemy is a research project that is intended to allow user to compile C and C++ code that is targeted to run on the open source ActionScript Virtual Machine (AVM2).
With Alchemy, Web application developers can now reuse existing open source C and C++ client or server-side code on the Flash Platform. Alchemy aims to bring the power of high performance C and C++ libraries to Web applications with minimal degradation on AVM2. The C/C++ code is compiled to ActionScript 3.0 as a SWF or SWC that runs on Adobe Flash Player 10 or Adobe AIR 1.5. Alchemy is primarily intended to be used with C/C++ libraries that have few OS dependencies. The generated content runs within the security constraints of the AVM2, and cannot bypass Flash Player security protections.