I tried a different mouse - a non wireless Logitech mouse, and the scrollwheel works fine.
So it seems to have something to do with the Microsoft series of Wireless mouse devices.
I updated to their latest driver yesterday, and I am still having this issue.
The scroll wheel works fine in Adobe's applications, just not in Adobe Air applications (on Windows 7 64 bit).
I hope that information can be of some help.
I'm frustrated, too, because of the scroll wheel issue with any AIR applications.
Running Windows 7 Home Premium N 32 bit.
Using Microsoft Comfort Optical Mouse 3000 (wired, not wireless) - current drivers.
Scroll wheel will not work when rolled normally, no matter what sensitivity I set the wheel to. To get any scrolling action, I have to roll the wheel as fast as I can. Then, it will scroll, but in horrible chunky bits, which ends up being wildly inaccurate and extremely frustrating.
I've heard of many other people having this issue. It's only when the program I'm using is an AIR application, which leads me to believe that Adobe did something to make AIR incompatible with a MS mouse & Win 7 OS. (I have used the same mouse running Vista and scrolled fine in an AIR application.)
Is Adobe going to correct this situation?