Debugger:

PHP Code:
SecurityErrorError #2148: SWF file http://www.iamvishal.com/pureecn/assets/slide/test.swf cannot access local resource E:\Dropbox\PUREECN\Graphic One Underwater.f4v. Only local-with-filesystem and trusted local SWF files may access local resources.
    
at flash.net::NetStream/play()
    
at fl.video::VideoPlayer/http://www.adobe.com/2007/flash/flvplayback/internal::_play()
    
at fl.video::VideoPlayer/http://www.adobe.com/2007/flash/flvplayback/internal::_setUpStream()
    
at fl.video::VideoPlayer/http://www.adobe.com/2007/flash/flvplayback/internal::_load()
    
at fl.video::VideoPlayer/load()
    
at fl.video::FLVPlayback/doContentPathConnect() 
First, don't point directly to a swf. Also looks like maybe a sandbox error.