When the application starts it reads and optimizes the transcription for searching. This process, depending on the length of the content and the PC that is being used, can take some time.
If you are running this example on your own server there are a few considerations.
1) The directory structure is important. The preferences file, assets and skins folders need to be in the same folder as the html and swf files.
2) You can change the location of the media and xml files in the preferences file along certain appearance settings.
The content of the skins folder are skins that can be used to change some of the functionality and appearance of the FLVPlayback component.
Musings and Stuff 
Hey Nick,
I saw some searchable video discussion of you guys at the Production roadshow in Dallas recently. Has an example / tute been uploaded anywhere you could point me to? Devnet, adobeTV etc….
Thanks,
Tom
Hey Tom, I finally posted my article and example. The example has a few updated features that I hope you find useful.