-swf-version=13 compiled with the -swf-version=13 option automatically support LZMA compression, which means that compressed SWF LZMA files can be loaded at run time, however, SWF files created by Flash Builder (version 4.5.1) are still compressed using compressed zlib compression by default,
Tinic Uro, one of the Flash developers, wrote a utility to convert SWF files from standard zlib compression to lzma. This must be done as an additional step after compilation, at least until Flash Builder starts supporting LZMA output.
Update (clarification):
The Flex SDK does not yet output compressed LZMA SWF files no matter what parameters you use, so the utility is needed. The compilation option "swf-version" tells the SDK to output the Flash 11 SWF. This does not mean that SWF is compressed with LZMA compression, just so that it can use it. The bottom line is that Flash 11 supports LZMA compressed SWFs, but you need to do extra work to actually create the LZMA SWF.
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