"Last year we followed up with an announcement that we had added external resource loading to our SWF indexing capabilities," Jifeng Situ and Sverre Sundsdal, Software Engineers at Google
Along with text, most of which can now be indexed, Googlebot can follow links found in Flash content. More recently, the team has been making progress in indexing Flash content within JavaScript code and extracting data from video content served with Flash.
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Hm it can be a game changer for some..