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Just sharing some code I found that worked to loop an flv clip that I had dropped into an AS2 movie:

var myLis:Object = new Object;
myLis.complete = function(){
flvPlayer.play();
}
flvPlayer.addEventListener(”complete”, myLis);

Just drop that in a frame and make sure the Instance name of your flv is flvPlayer.

Found the code in the macromedia.flash group on Google groups, which also had AS3 code for the same thing (but I did not test it). Enjoy!