Colin Moock has posted a video on his blog of Kevin Lynch, Macromedia’s chief software architect, demonstrating the next generation version of the Flash Player at the Macromedia Flash conference in Tokyo, Japan.

Only a few features are shown, but already we can see the monumental improvements that are being made by the 8Ball team.

In the video below you’ll see:

• Saffron, a new type-rendering engine
• Dramatic performance improvements
• Realtime bitmap effects (blur, dropshadow, colour matrix etc)
• Realtime video alpha channels

Very exciting stuff.

• Demo Video (14.5mb 320×240, 30fps)

Update: Kevin Lynch has posted on his blog about his presentation in Tokyo.