I found this great and very recent article demystifying everything about Flash and SEO right now !

It links out to the “ADOBE developer Connection”—so everything is directly from Adobe, highlighting things like SWFAddress, SWFObject, XMP metadata (currently only available in Flash CS4) and much more. A must read for flash designers and flash developers.

http://www.adobe.com/devnet/flash/articles/ora_seo_flash.html

http://oreilly.com/flash/excerpts/seo-for-flash/creating-optimized-flash.html