The "possible duplicate" listed in the question is a completely different question. I voted to re-open. A Flex Library [project] is one that has all the Flex libraries in the classpath; whereas an ActionScript library project will not.
- JeffryHouser
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Flex refers to the components that Adobe ships. Actionscript is the language. Therefore a Flex library would be one that contains code that either uses or extends Flex components, whereas an Actionscript library will be one that does not.
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