You missed playerglobal.swc
in your config. The minimal compiled config should be:
Flex 4:
<flex-config>
<target-player>11.1.0</target-player>
<default-frame-rate>40</default-frame-rate>
<compiler>
<locale>
<locale-element>en_US</locale-element>
</locale>
<external-library-path>
<path-element>${flexlib}/libs/player/{targetPlayerMajorVersion}.{targetPlayerMinorVersion}/playerglobal.swc</path-element>
</external-library-path>
<library-path>
<path-element>${flexlib}/libs/player</path-element>
<path-element>${flexlib}/libs/player/{targetPlayerMajorVersion}.{targetPlayerMinorVersion}</path-element>
</library-path>
<optimize>true</optimize>
</compiler>
</flex-config>
Flex 3:
<flex-config>
<target-player>10.0.0</target-player>
<default-frame-rate>40</default-frame-rate>
<compiler>
<locale>
<locale-element>en_US</locale-element>
</locale>
<external-library-path>
<path-element>${flexlib}/libs/player/{targetPlayerMajorVersion}/playerglobal.swc</path-element>
</external-library-path>
<library-path>
<path-element>${flexlib}/libs/player</path-element>
<path-element>${flexlib}/libs/player/{targetPlayerMajorVersion}</path-element>
</library-path>
<optimize>true</optimize>
<warn-no-constructor>false</warn-no-constructor>
</compiler>
</flex-config>
You need to add path to the playerglobal.swc
from this example.