The downside to checking Adobe Labs in the morning, eastcoast morning at that, is the disconnect from the release time cycle. Anway, yesterday's release of Squiggly is one of the more interesting releases in awhile.
Squiggly is a Flex 3 spell checking component, with context menu based alternative spelling suggestions and replacement functionality, that can attach to any text component. This is particularly interesting because of the immediate utility it has for many of the projects that I have developed and/or am obliged to maintain.
Stated limitation is that the alternative spelling suggestions are based on English phonics so it is not ready for non-English dictionaries. This is not a deal breaker for my needs, but could definitely be a wet blanket for many.
Also, at first glance of the demo piece, it looks like the suggestions don't follow existing capitilization. So, if you are correcting the first word in a sentence, or a header, after making the change you will have to manually correct the case. Not a big deal, I suppose, but unfortunately this guy isn't open source so any attempts to fix it will be a little less elegant.
Anyway, limitations aside, it looks like it a really handy tool for improving the text input experience in Flex.