Awesome
flasher
ActionScript 3 XML slideshow based on as3-transitions-lib (FP 9, 10 ,11)
Live Example
This project along with as3-transitions-lib were initiated some years back, in order to create a generic slideshow framework based on flash for mostly work and demo purposes
This project and (as3-transitions-lib) are still in progress (fully working nevertheless), but not developed anymore.
In any case the code is published in this repo and as3-transitions-lib.
Note for JavaScript/CSS and/or jQuery slideshow libraries with similar effects check out NoFlash and Imagik