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First is a beta version of Flash Catalyst, a programming tool that's designed for the designer crowd rather than the coding crowd.
Second is the beta of Flash Builder 4, the harder-core programming tool previously called Flex Builder.
Third is the beta of Flex 4 framework that provides underpinnings for Flash applications, including everything from user interface components to animation technology. Flex 4, code-named Gumbo, is an open-source project.