In response to your smoothChildBitmaps function, I am running into some issues.
Firstly, this function does not seem to work on Images (mx:Image). This is because the child of the Image is a Loader, not a Bitmap. Having it run smoothing on Image.loader.content does the trick
Unfortunately, I cannot get this function to work on Flex components whatsoever. After some digging around (in this case, it's with mx:Button), I discovered that the art assets for the skin are stored as SpriteAssets as children of the Button. Unfortunately, I am not having a very good time trying to smooth these SpriteAssets. I've tried drawing the sprite onto a new BitmapData, loaded this BitmapData into a new Bitmap with smoothing set to true, added this Bitmap to a new SpriteAsset, then switching the SpriteAsset inside of the button for this new one, but I do not get consistent results. It will smooth the button the first time, but any subsequent smooth calls (due to mouse over/out, whatever) end up reverting the button back to its non-smooth state. Any ideas here?