Thanks Toumimi, it works great for me too now.
v5.2.9 solves this issue.
Note to others (who are new to WAMP):
When downloading the "additional PHP version", you need to left-click:
Wamp-icon > PHP >Version > 5.2.9
This changes the PHP version to 5.2.9, which works with Flex builder 3.
Cheers,
/Jonas
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flashjonas.se]