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I have not read this anywhere and it took me a while so here it is. Make sure that you are pointing your playerglobal.swc file to Flash Player 10, rather than 9 otherwise you will get these errors when you try and compile the application.Also, you will also need to have flash player 10 installed since some classes use the new text engine.
1046: Type was not found or was not a compile-time constant: ElementFormat.
1046: Type was not found or was not a compile-time constant: TextBlock.
Here is the Link to guide you.

4 Responses to Compiling Flex 4 (Gumbo)
Greg J
July 15th, 2008 at 12:16 pm
I wrote a post last night walking through how to compile your first Flex 4 app: http://blog.smartlogicsolutions.com/2008/07/15/compiling-your-first-flex-4-application/
Greg J
July 16th, 2008 at 1:14 am
Just wrote another post you my be interested in on using FXG and a Skin file to skin a Button in Flex 4: http://blog.smartlogicsolutions.com/2008/07/16/skinning-button-flex-4-fxg/
Jeremy
July 31st, 2008 at 11:36 pm
Is there something I need to do for everything to show up in design mode, or is it strictly compile against the sdk. I get crazy errors in design mode, but my applications run great.
Flex 4 Gumbo Link Roundup: From getting started to skinning
August 2nd, 2008 at 12:46 pm
[...] Compiling Flex 4 (Gumbo) http://sherifabdou.com/2008/07/compiling-flex-4-gumbo/ [...]