With the help and suggestions in this thread I'm currently looking through the app I'm working on and trying to decide what I need to gut. This is where examples from others can really help out, and a Pseudo-Threading-Engine example would probably be golden.
I think any documentation about the Event-Driven model in Flex/Flash should have *** all over it to remind those of use who came from multi-threaded event driven applications that any listeners will be processed serially when an event is dispatched. I think that's where my mind took off with the event driven model and ran, thinking those listeners would be processed in some background Event thread. I have to be very careful how I structure this application because I am working in a team of ten developers. The performance problem I've been seeing has been exacerbated by the fact that other developers have registered their components as event listeners for many of the events I'm dispatching. With each new listener, my function becomes slower and slower as each listener action is basically added in-line. Going back to the drawing board on this application architecture.

