A Smart Clips were introduced in Flash 5. They are a version of a Movie Clip that has programming code inside it which can be changed easily through an external interface (the Parameters panel). It is for those who want to reuse their movie clips to make many of the same type of movie clips (but a little different) with little effort. It is great for complicated reusable parts of movies, like scrollers and pull down menus.
NOTE: Components replace and extend the SmartClip movie clips introduced in earlier versions of Macromedia Flash. You can save components authored in Macromedia Flash MX in Macromedia Flash 5 format. However, some component features are not supported in Macromedia Flash 5.
See Components on previous page