tech support got back to me finally
good thinking Xample. i returned the product for a refund.
this is what they sent (below). maybe it will be useful for someone else: fyi it took several days for me to get this email, kinda makes you think tech support is busy? whatever. the first part didn't work, the new user stuff. same problems. i tested with cut and paste. i returned the product for a refund, so when i tried the other stuff my serial had been zapped. i reinstalled several times with fresh downloads and on fresh systems. i dont think it is me. all other apps other than macromedia flash mx 2004 pro work great. end of story.
Thank you for contacting Macromedia Technical Support.
I understand that you're encountering several issues with your Flash MX 2004 Professional application. We may need to some troubleshooting with your installation. The first thing I suggest that you try is to do is to try to create a new user with full read and write access rights or administrator rights. Then try to log-in on the new user and test to see if your able to run flash properly.
Now if this doesn't work try to delete the /Library/Preferences/Macrovision folder, restart the application, and reactivate the product. If this does not work, reinstall the product and activate it again.
Now with regard to your timeline and panels issue, try to going to Window>Panel Sets>Default layout. Try to see if your panels now works fine.
I hope this helps. Please be advised that support can only keep incidents open for 24 hours if there is no activity in the support incident. If we do not hear from you within this given time we will assume that the issue is already resolved and will then have to close the support incident, unless you advise us that you will not be able to try the recommended troubleshooting steps for a while.
We're doing this as part of our commitment to make sure we are maximizing our available support resources to resolve your issue as soon as possible.