I have been using Authorware for over 10 year to make user CD's. I have been fighting Flash support issues for a few years now.
I have Director 11.5 too. Now Directors Flash Asset has been updated to support Flash CS5 and AS3 (Actionscript 3)
I took the Xtra and renamed it to the Authorware version's name. I now have support for Flash CS5. It might work on your projects. My projects required some minor tweaking. I had to clean up the code to do away with global variables and use of things like the _root object reference. Some of the Flash file's code were developed with Flash 7 on up and Actionscript 1.
I haven't checked out all of the features Flash CS5 support and the level of the Flash Asset support usable in Authorware (I have tested Flash 6 SWF's with video and text with variables).
I am amazed that the this product still works in Vista and Win7. Just another tribute to the old Macromedia team.