Found Open Source Flash player using adobe osmf at

http://blog.nicolasprof.com/profmediaplayer

Making FLV players with osmf is easy with video tutorial by R Blank

http://www.adobe.com/devnet/flash/articles/video_osmf.html

But making a UI is difficult task for many flash newbies. I was thinking that adobe should make a basic FLV player made available, so others can start from the player.

PROFMediaPlayer user interface is not much professional looking, still a good starting point, the player provide PSD skin, that can be modified.