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Do you have the CDATA tags within your mx:Script tags? I bet not.
yeah i have,
compiler says "& should b with some reference".
"&" should be written as Unicode: \u0026
private var news:String = "News \u0026 Events";
Its showing like this
News \u0026 Events
Use Character entities for common XML markup characters that intersect with symbols.
The code is compiled from MXML into AS3 so using entities is the only way to feed the compiler well formed xml.