Runtime Shared Libraries (RSLs) are a good way to reduce the size of your Flex applications. A framework RSL, for example, is an external version of the Flex framework that can be stored in the user’s Flash Player cache. The great thing about this is that when a user downloads the RSL the first time it is stored in cache, and no matter what domain it was downloaded from, it can be used by all other Flex applications on the web. The framework RSL is never downloaded again, meaning that your application doesn’t need to contain any of the Flex framework code, thus reducing the size of your core application.
But this caching can also cause some difficulties while testing. If you are creating a new application that will use an RSL, you will need to specify the path to it in your build options (of course, this local copy will only be referenced by users who don’t already have the RSL in their cache). Well, how do you know if this path is accurate if you already have the RSL in your cache? When you test your application it will not try to access your local RSL if you already have it in cache.
So what you need to do is clear out your Flash Player cache. To do this, go to http://www.macromedia.com/support/documentation/en/flashplayer/help/settings_manager03.html and uncheck “Store common Flash components to reduce download time.” When the pop-up box appears, click “Confirm” and your Flash Player cache will be cleared.

Now that your cache is cleared you may re-check the box to restore your setting and turn caching back on. When you test your application for the first time it will require the framework to load from the RSL path you specified. You’ll know you have a problem if your application fails and gives you a message about unresolved RSL paths.
I prefer to keep caching turned off while testing, to get a better feel for what users will experience on their first visit to the application. However, don’t forget to turn it back on after you’re done testing.