This sounds like an AIR runtime error when rendering the GPU, as it only happens on iOS 4, not iOS 5. However, it is possible that your iOS 4 device has too little internal GPU memory to store all cached conversions. After your cache will be full, you will see a huge drop in performance (perhaps the same drop in your vision). You should use object aggregation as much as possible to minimize cached conversions.
Jonathan dunlap
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