Surprisingly, the flex SDK is open source: http://opensource.adobe.com/wiki/display/flexsdk/
And there is at least one open source IDE that uses it: http://en.wikipedia.org/wiki/FlashDevelop
Also, the main part of the Flash Player is open source: http://en.wikipedia.org/wiki/Tamarin_%28JavaScript_engine%29
And if I understand it correctly, the only reason it's not is due to licensing and patent stuff that is out of the control of Adobe.