There is a setup that needs to be done, listed below:
[O]ne needs to configure the MSAA plugin so TestComplete can see the inner controls in Flash applications:
1. Create a new TestComplete project (or open an existing project);
2. Open the Project Properties window (right click on your project in Project Explorer and select the 'Edit | Properties' context menu item);
3. Select the 'MSAA Open Applications' item and add the 'MacromediaFlashPlayerActiveX' item to the List of Accepted Windows.