Compiling old Flex 2 application with FlashDevelop

Question

I am having trouble compiling a project built in TextMate on a Mac.

I have Flash Builder 4 and FlashDevelop on PC, and I cannot seem to compile the project even when I've downloaded the Flex 2 Hotfix 3 SDK.

Flash Builder cannot work with Flex versions prior to Flex 3, so I'm left with Flashdevelop. When I assign the SDK path to point to the Flex 2 SDK, I get the following message when I try to compile:

command line: Error: unknown configuration variable 'static-link-runtime-shared-libraries'

Use 'mxmlc -help' for information about using the command line. Build halted with errors (mxmlc).

Is there something I'm missing, and is there an alternative way for me to compile this old project?