I have read some post on this subject but did not find an answer. Here is the problem. I have CS5.5 which comes set up for 10.2 flash. I followed instructions found at this url (http://forums.adobe.com/message/3724540#3724540) and was successful in changing CS5.5 to see 10.3. I downloaded the various new players for browsers and standalone. My goal is to incorporate AEC features found in 10.3 - they are not working (or at least I thought they were not).
After several hours I wrote a simple code line that reported the version number in a text line. (versionTxt.text=Capabilities.version;)
When I compile inside of Flash IDE it shows the version level of 10.2.153.2 , which is what shipped with my CS5.5. However this swf and exe files report version 10.3.181.34. This shows the player associated with the IDE did not update. It makes it impossible to write, test and debug projects while inside the Flash IDE.