Is there any advance TextArea that can attached image(image is alligned with the text) and the image can be movable inside the text area.I know that text area can support html text and can insert image tag but it is very limited, I can't move the picture inside textArea by dragging it or even add events on it.Is there any approach or solution or suggestion that you can give me?Your help guys is very much appreciated.
It sounds like you would need to build a custom component for that functionality. Dragging an image around a TextArea is very non-standard behavior.
It should be possible using the new(ish) TextLayoutFramework (TLF), that came with CS5 and Flash builder 4 http://labs.adobe.com/technologies/textlayout/
It has advanced location information for letter possitions, and also supports inline images more like the way html does.
Also look at the textflow options from this developer: http://guyinthechair.com/tag/flash-text-engine/
Seems like you would only need to add the interaction layer to achieve your desied results and it might be easier to use.
The solution is TLF (text Layout Framework). With TLF you can use TLF markup to send formatted text and images to a TextFlow. It's very powerful, but also complex. Here is a list of the tags you can use:
http://blogs.adobe.com/tlf/2009/09/tlf-markup-overview.html
I created a HTML Editor using it, and I'm impress with it. It supports image resizing, drag-n-drop, advanced formatting, etc.
Hope this helps!