Error: Could not find resource bundle rpc

I ran into this runtime error "Error: Could not find resource bundle rpc" when running my application which loads a remote SWF file. After a few futile Google searches (which turned up this bug report) I realized that I had compiled the remote SWF using the Flex 2.0.1 compiler instead of the default Flex 3.2. Once I changed my remote SWF to be compiled using the 3.2 compiler (this can be done under the project
Properties > Flex Compiler > Use default SDK (currently "Flex 3.2") then it all worked as expected. So I'm guessing that Flex 3 and Flex 2 SWFs don't play nicely...