I’ve been messing around with captions within Flash CS3 recently, but one of the things I thought was a little annoying was creating the timed text XML itself. Previous searches on the net didn’t seem to highlight any decent free caption creators, but then today I discovered the Subtitle Creator on Subtitle Horse’s website.
While I haven’t put it through its paces yet it looks pretty much like what I was planning on mocking-up myself. Will look to play around with it soon. One thing I wasn’t quite sure about however is that the site says you don’t have any power to change fonts, but the captioning component within Flash CS3 will allow this providing the caption is within CDATA blocks.