Brajeshwar posted some source files for a Flash Video player with BW detection.

“The application uses Object Oriented Progamming Methodology and is patterned closely to Model-View-Presenter.”

If the Peldi player appears to be too complicated, maybe this is a good alternative.

Full Extended article on Brajeshwar.com
Preview Application
Class Documentation
Download; With Video (7mb) | Without Video(34kb)