In CS4, I can use contentPath in the Components Inspector to point to my .flv so I can run, test my file locally. After confirming all works well, I then change that path to point to the .flv which has been uploaded to the server where it will live in Prod.
Normally, I get the error regarding live stream but, it allows me to enter regardless.
The problems now is, in CS5, I am unable to edit/change that path once I get that same error.
I know I can do this in AS but, I should be able to do this in the contentPath in the Components Parameters dialog.