Flex, its an IDE provided by Adobe to develop future web applications, rather rich internet applications. so far Flex 1.0, 2.0 and 3.o are already released. Next version the Flex 4 is in development stage. The main feature of flex is that its open source, rich look and feel and quick response. The development work is made easier by providing a large set of freely available custom components. A nice presentation about Flex 4 can be viewed here :
Flex 4 SDK next plan by Matt Chotin
Flex 4 SDK presentation in PDF