Yes. You have to :
- add the
-swf-version=XX
arguments to your compiler settings - add the
-target-player=11.X
arguments to your compiler settings - optionally, grap the corresponding
playerglobal.swc
and duplicate your FlexSDK, replacing the original SWC file (this is if you need to access new APIs)
Here is a comprehensive tutorial on how to this, and also a very useful chart to know what SWF version to use.
So is there any possibility to use this benefit of Flash Player 11 with my current Flex SDK with implementing a restriction based on Flash version with something like Capabilities.version or not?
Generally, I don't think the approach of targeting a earlier version and check the actual one at runtime will work because the Player, even if it's version 11.0, will try to act just like the 10.2 if this the version your SWF was compiled for. See the very beginning of this presentation for more details. Use SWFObject to set the minimum player version for your application.
However, since your need is support for larger images, which is somehow transparent to programmers, I am not sure it is actually disabled for older SWFs. That should be tested.