I'm an old Director developer from way back when...We used to embed Flash content in Director projects, but I don't believe you'll be able to do the reverse. Sorry.
Yes, we are aware of that possibility, in fact we are successfully using Flash movies inside a Director project.
But now we needed to deploy our project on AIR platform.
Being AIR and Director both Adobe technologies, we naturally thought there would be some sort of compatibility...
eTelestia Technical Team