Today I found a great class to help me calculating text metrics in Flash. It's really nice, you can use it to locate every single word / line etc. in a (for instance) wrapping textField. Actionscript 3 has got nice built in methods for this, but unfortunately, for the current project I need to develop with Actionscript 2. Jack Doyle created a very nice actionscript 2 class for this:
font
There is one post tagged font.