You can hide GUI controls by loading the flash paper into a
movie clip and then disable them with the showUIElement API. But
that's not really fooling anybody since the Flash Paper file is
present on your computer either in a local directory or in the
browser cache. A guy can easily find the file and view it with
Flash Player 8 with all GUI controls available.
I wonder if there's a way to turn off the GUI controls
directly so that even if you view it inside the Flash Player 8, it
still doesn't show those controls.