I had this same issue and I FINALLY found a fix for it thanks to
http://www.nabble.com/Binding-an-arraycollection-of-Loaders-td14756754.html.

This is what you need to do:

<mx:Image x="10" y="10">
   <mx:source>
        <display:Bitmap
bitmapData="{data.thumbnailLoader.content.bitmapData}">
        </display:Bitmap>
    </mx:source>
</mx:Image> 

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