Strange issue in CS5. I create a dynamic text object on the stage and make sure the font is embedded and it is Anti-Aliased for Animation. I then drag over my FlashEff2 component onto the text box and apply the effect.
When playing the movie, I see the effect happening when it should, however, my text is still sitting on the stage behind it. It's almost as if it forgot to hide the original, or it is somehow duplicating the text object. Then when the effect plays to hide it, the text is still sitting on the stage as the effect happens.