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Most likely, no. We are intending to have Hero require the next version of Flash Player in order to take advantage of new features and significant performance optimizations.
Without speaking too much about release timings, the rapid rate of new Flash Player adoption makes this decision amenable. You can read more about Flash Player penetration rates here:
Sr Product Manager, Flex SDK
What in the heck would she know about the next release of Flex?
Deepa I hope you reconsider and support 10.1 at least, no enterprises will have an upgrade rollout for just the Flash Player, we still have the odd 9.x user and 10.1 stats are nowhere close to what your stats say. Adobe doesnt exactly have a perfect record for Flash installs going without a hitch.
Seems like every single release Adobe just dumps the previous versions of the framework and promoses to fix bugs in the next one. 4,5 will be the first 4.x version we were considering on upgrading to because control parity is almost there with MX 3.x but looks like it wont happen again.
Please reconsider 10.1 at least, 4.5 can clearly run given the current preview release.