Buzzword was created before the structure of the text layout existed; therefore, I donβt think he uses it. I, too, had the impression - without any facts to back it up - that Buzzword did the server side conversion of the document; not on the client side.
I do not know of any AS3 projects that do this, and would recommend taking a look at the ways to access data inside a Word document. The Apache POI project is one option: http://poi.apache.org/ .
From there, you will need to create your own conversion from the document to what AS3 can handle.
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