Hi,
this is a basic limitation of the Flashplayer when loading local files:
When loading files from the net, then the Flashplayer will do the loading in the background - that means you can still interact with the Flashplayer (e.g. pan around in the pano) during the loading.
BUT - when the Flashplayer loads files from local drives - then it works that way - when requesting the file, the Flashplayer start loading the file and completely stops itself until the file is fully loaded. Once it is loaded, everything continues to work normally again. That means there will be always a short pause when loading new files in this case.
A way to avoid that Flashplayer limitation might be using a local webserver - e.g.
mongoose is simple and easy (but not the fasted) one.
Best regards,
Klaus