There is a rendering bug in swfrender which causes graphics and some formatted text to be rendered wrong.
http://dl.alicanc.com/Misc/SWFToolsBug/bug.png In that example, you can see that legacy rendering (on the left) works fine on graphics, but the normal rendering (on the right, of course) messes them up. I could use the legacy rendering, but then the text would look bad. I'm trying to convert a book to be displayed on a handheld device so the text quality is important. The original SWF and my conversation test can be found in http://dl.alicanc.com/Misc/SWFToolsBug.zip and http://dl.alicanc.com/Misc/SWFToolsBug/ (extracted). I am using SWFTools 0.9.1 on Windows XP.