As announced in January 2009, Adobe now published the specification for the former proprietary RTMP protocol. The specs can be downloaded for free from here, for more background information check Kevin Towes blog entry
The EULA is pretty clear on prohibiting two things: you may neither create "stream ripper" software based on the specs, nor create a software that cicumvents security/DRM measures implemented by Adobe (rtmpe, rtmps). You may of course build your own security/DRM scheme on top of the open RTMP specs
So: who is the first to create a AS3 only RTMP-client that does not use NetConnection?
Dirk
http://osflash.org/pipermail/red5devs_osflash.org/2009-June/004643.html
The Red5 people are worried just reading this will compromise them legally.