Unable to load PanoPlayer VR swf in Air

Question

attempting to load a VR swf made by PanoPlayer into an AIR app results in:
SecurityError: Error #3226: Cannot import a SWF file when LoaderContext.allowCodeImport is false.
          at flash.display::Loader/_loadBytes()
          at flash.display::Loader/loadBytes()
          at PanoPlayer/initPanoViewer()
Note: the following code works fine in a Flex app for the web ...
Code:
<?xml version="1.0" encoding="utf-8"?>
<s:WindowedApplication xmlns:fx="http://ns.adobe.com/mxml/2009"
                                                     xmlns:s="library://ns.adobe.com/flex/spark"
                                                     xmlns:mx="library://ns.adobe.com/flex/mx"
                                                     creationComplete="windowedapplication1_creationCompleteHandler(event)">
  <fx:Script>
                    <![CDATA[
                              import mx.events.FlexEvent;
                              import mx.core.UIComponent;
                              protected function windowedapplication1_creationCompleteHandler(event:FlexEvent):void
                                        var urlLoad:URLLoader = new URLLoader(new URLRequest("VR.swf"));
                                        urlLoad.addEventListener(Event.COMPLETE, loadComplete);
                                        urlLoad.dataFormat = URLLoaderDataFormat.BINARY;
               protected function loadComplete(event:Event):void
                                        var loadContext:LoaderContext = new LoaderContext();
                                        loadContext.allowCodeImport = true;
                   theSWF.loaderContext = loadContext;
                                        theSWF.source = event.currentTarget.data;
                    ]]>
  </fx:Script>
          <s:SWFLoader id="theSWF" x="100" y="50"/>
</s:WindowedApplication>

Answer 1

should anyone else have this problem ... it turns out I needed to upgrade PanoPlayer