Re' unable to open 'C:\temp\flex\test123\frameworks/localFonts.ser' error: Windows cannot understand paths with both correct and Windows slashes - you should normalize it first, so that either all slashes are correct, or Windows-style. The strategy would be to detect correct slashes and replace them with Windows-style slashes, because if you do it the other way, then Windows-style slashes get interpreted as escape characters (which they actually are...). localFonts.ser shouldn't be mandatory, it's a font cache file generated by compiler afaiu, so it should get over it, if it's not there. Maybe this error used to be ignored before, but it must be safe to delete this file at all times.
Best. Oleg