did you try to add the update_complete listener to myRichText.textFlow or myRichText ?
it's on the RichText control directly
<s:RichText id="rT" updateComplete="onUpdateText(event)"....
i tried to add a "UpdateCompleteEvent.UPDATE_COMPLETE" to the textFlow as well
but it never gets invocted...
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There is no "textFlow finished parsing event"... when you call TextFlowUtil.importFromString() the String has already been parsed into a TextFlow by the time the method call returns the TextFlow to you.
But the RichText must later render the TextFlow into TextLines. If you're using a recent version of the Flex 4 SDK in which RichText is a UIComponent, you should get an updateComplete event after this happens. If you aren't getting it, please file a bug. But in earlier versions of the Flex 4 SDK, RichText was a GraphicElement, and GraphicElements don't dispatch the "lifecycle events" that UIComponents do.
Adobe Flex SDK Team