The purpose of SWF support in Vegas and Vegas Movie Studio is to read .swf files for use as animated text. Flash 6 supports several kinds of actions, embedded movies etc, plus audio. Vegas only supports opening .swf vector files for use as text - no audio, no compressed movies, nothing besides vector text.  Since Screenblast Movie Studio 3.0 makes movies in the Flash 6 format, they will not open in Vegas or Movie Studio.  If you are exporting your animation from Flash MX for use in Vegas, you will need to follow the instructions below when outputting.

1. Create text animation
2. Export to Movie
3. UNcheck "Compress Movie"; this is checked by default
4. Save
5. Open in Vegas