Thanks Klaus for your help.
I tried with flash CS5 trial and everything goes allright.
But with CS3 nothing appear only the buttons of my pano (right,left,zoom...)
I tryed your CS3 file and publish it : No pano only debug log window. It seems really strange.
I tryed online and offline.
here is the log message with your embedexample_CS3 file online:
Thanks
Thity