ActionScript 3.0 Wrapper for YouTube Chromeless Player
The ActionScript 3.0 Wrapper for YouTube Chromeless Player leverages ActionScript's ExternalInterface class and YouTube's JavaScript API to create a reliable approach to integrating the YouTube API into your ActionScript 3.0 projects.
You'll probably want to start with the demo:
http://youtubechromelesswrapper-as3.googlecode.com/svn/trunk/as3wrapper/deploy/index.html
A full article and code overview is available here:
http://code.google.com/apis/youtube/articles/youtube_as3_chromeless.html