"Flash Localization Tool" in it's latest version is the best solution how to localize your Flash applications. You do not have to be an Action Script expert or have localization experience to be able to get your application localized. Tool is primary developed for Adobe Flash CS3, CS4, but works well under Flash CS5 as well. Forget all "solutions" that work with published format ".swf" - this extention scans the source ".fla" files for all text that should be localized, can exports Action Scripts and it is able to export parameters from components used in your flash file.
New minor version released - 2.11.7. AutoKern always set to "false" after import issue has been fixed.