Hero is the codename for the next version of the Flex SDK. Deepa Subramaniam is the Flex SDK Product Manager, and she just announced that the first of what is planned to be semi-regular Hero builds has been posted.
Only God knows how much time was lost with all these framework shifts & changes (especially with the Spark 'revolution' that creates more trouble than it solves...). I hope the Hero framework will learn from the mistakes but I doubt it given the time pressure to release something that can be used on mobile. As long as companies can't be convinced to develop 3rd party components, the Flex framework will never take of as Adobe hoped.
I have a real problem with tying Flex 'Hero' to the next version of Flash when I initially only found out about this through the fact Flex Slider was cancelled and this was the replacement framework. Yes, it's great that we won't have 2 divergent frameworks, but did it really need to be tied to the next Flash player?
I just hope updating all those Android 2.2 phones/tablets with the next version of Flash is going to be simple. Seriously unimpressed.