Hi guys, thanks for taking the time to look at my post, much appreciated... I actually got an idea from another post in this forum. Since I had access to the child SWF, I deceided to dispatch an event from the parent to the child and I pass URLVariables class to the child, worked like a charm.
Had to make some modifications to init approach of the child, but it's so much better doing it with event handling!!
I did find something about the problem from FP IDE, basically since it's on the file system, it looks at the query string as it physical file name, that's why we get the URL not f