Have you reset InDesign preferences? Try that.
Tried. Still spinning.
Have you tried deleting the bounding box and recreating a new one?
I've had the same problem. I tried unistalling the tools and folio panel and reinstalling them, now the folio panel displays 'you do not have a compatible Digital Publishing Plug-in'
I have been getting exactly the same thing happening. I worked on this months ago and gave up eventually.
I tried again yesterday and after a few crashes I got this to work. Not sure exactly what fixed it as I tried many things but here is a rundown. I did get multiple crashes but persisted this time.
I made a new document to house my animation, it was 200 x 400 pixels (size does not matter as long as its consistent - see further on).
I created the animation in Indesign CS 5.5 and tested. Once I was happy I exported the FLA into a folder. Not sure if this helped in any way but I moved the Indesign doc into the same folder.
I used Wallaby to point to the FLA and converted it into HTML5 and saved all the elements into the same folder. I dropped the .html onto the browser and it worked fine.
I then drew a frame in my Indesign doc exactly the same size as previous, ie 200 x 400 pixels (again not sure if this had any effect on fixing the issue but it worked for me). I used overlay creator/web content to point to the .html file. I saved the folio and uploaded it to DPS.
When I checked this on the iPad it works fine.
Again, not sure how or what exactly fixed this but it works.
Could just be that the more you try it the less it crashes and eventually works. :-s
Hope this helps.