We recently upgraded to Flash CS5 and now are facing a lot of problems.
I created a static textfield on Stage with publish settings Flash player6 As1.0
I selected the settings as shown in attached screenshot.
The problem is I can't select Bold from styles as it is greyed out. However this work fine in Adobe Flash CS3.
Anyone knows what I may be doing wrong
I think this is nothing to do with Flash CS5 but with the font availability in your system. If the font doesn't have bold, italic variants of the font then the Style combo box becomes grayed out as there is no corresponding glyphs available for that. Normally Arial Unicode MS font doesn't have its Bold variant. Some word processor applications (eg MS Word) may do that by just thickening the available glyphs instead of using the actual bold glyphs from the Font which is incorrect.