Two questions for you?

1. What is the purpose of this conditional? Seems to work without it

Actionscript Code:
if(m.d < 0) {
                m.rotate(Math.PI);
                d *= -1;
            }

2. Why do you call CircleExample.WHATEVER everywhere? You can omit the CircleExample from all the const you've set up. for instance:

Actionscript Code:
package {

    import flash.display.DisplayObject;
    import flash.display.Shape;
    import flash.display.Sprite;
    import flash.geom.Matrix;
    import flash.geom.Point;
    import flash.text.Font;
    import flash.text.TextField;
    import flash.text.TextFieldAutoSize;
    import flash.text.TextFormat;

    public class CircleExample extends Sprite {
        public var center:Point;
        public static const TOTAL_ITEMS:uint = 60;
        public static const RADIUS:Number = 100.0;
        public static const ROTATION:Number = (2 * Math.PI) / TOTAL_ITEMS;
        private var cont:Sprite;
        private var myItem:Shape;

        public function CircleExample() {
            center = new Point(stage.stageWidth * .5, stage.stageHeight * .5);

            var accumulator:Number = 0.0;
           
            cont = new Sprite();
            addChild(cont);

            for (var i:int = 0; i < TOTAL_ITEMS; i++) {

                myItem = new Shape();
                myItem.graphics.beginFill(0x000000, 1);
                myItem.graphics.drawRoundRect(0, 0, 20, 4, 4);
                myItem.graphics.endFill();
                addChild(myItem);
               
                place(myItem, center, accumulator, RADIUS);

                accumulator += ROTATION;
            }
        }

        //center rotation distance
        public function place(graphic:DisplayObject, c:Point, rot:Number, rad:Number):void {
            var m:Matrix = graphic.transform.matrix;
            m.translate(-graphic.width * 0.5, -graphic.height * 0.5);
            m.rotate(rot);
            m.translate(c.x + m.a * rad, c.y + m.b * rad);

            graphic.transform.matrix = m;
        }
    }
}