What's New in Adobe Flash CS5?

The Flash CS5 Text Engine:

Specifically, the Text Layout Framework. This takes design into a different arena by providing a visual text positioning and editing capability very similar to many graphic design programs and providing more features, more ways to manipulate your text, and greater control.

Code Snippets:

A new panel comes with predefined code that makes it easier to get past the knotty adjustments from ActionScripting 2.0 to 3.0. The Code Snippets panel lets you insert pre-written code with a few clicks.
Upgrades to the ActionScript Editor: The new version of the editor features code hints and code completion.

New Drawing Tools for Deco:
If you use Deco, this adds new effects and tools that will simplify and enhance your experience.
Spring": A new animation feature for inverse kinematics, intended to allow more realistic features.

XML for FLA Files:
Flash source files are now based on XML - which can mean many things for file editing, distribution, and linking.

Tie-Ins to Other Creative Suite Products:
Flash now integrates more thoroughly with functionality for products such as Photoshop and Dreamweaver, playing up the "suite" aspect of the product pack. If it turns out the various products can actually work together as extensions of a whole, it'll bring a new layer of interactivity and productivity for animators and designers.

Flash Builder Integration:
Keep your code in one place and your animation in another, but bring them all together in Flash.

Support for Wider Content Distribution:
Get your content out there to a broader audience on a variety of platforms with Adobe AIR.