Before Flash 8, there was no standard for seo'ing a flash movie. There was, and still is limited functionality provided by major search engines such as google, for instance if you search "game filetype:swf" in Google, it will return some results perhaps relevant but not really accurate.
In Flash 8 there is something called "Metadata". Although, in my opinion standard html pages will always have the higher "value" in terms of being indexed well by search engines. But this is a good start for getting flash on the right track in terms of SEO for flash.
Within Flash 8, open the document properties and along with your usual document properties you will see the Title and Description Fields, that pretty much says it right there.

One thing to keep in mind, and is what I tell everybody who asks me anything about SEO: Don't try to use meta fields to spam keywords. This applies to html with meta tags as well. This isnt 1999 any more and the search engines aren't stupid. So just put what best defines the flash movie and allow the search engines to gain accuracy, common sense really.
If you turn on size report generation (File > Publish Settings > Flash Tab > Generate Size Report) and then test your movie (CTRL + ENTER) you will see something like this in the report:
Metadata
--------
Bytes Value
----- -----
217 <rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#"><rdf:Description rdf:about="" xmlns:dc="http://purl.org/dc/1.1/"><dc:title>My Flash Movie Title!</dc:title><dc:description>This is my flash movie's description!</dc:description></rdf:Description></rdf:RDF>
Keep in mind though, that because you included the meta information for your flash movie, this does not mean that it will automatically generate the meta tag information for your actual html page, this you will need to do separately. Although, in my opinion meta tags for html pages are no where near as vital as they once were and are more of an option.
Also another perk to using the metadata fields, is that you can publish the information for ANY version of flash player 8 or earlier. This means if you have a flash site compiled in flash 6 and just want to include the metadata, then go right ahead! You will need the corresponding .fla file and flash 8 to do this, but in the long run I think it is worth it.
Digg this!