[trng]

Вот так работает:

<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"
					   initialize="windowedapplication1_initializeHandler(event)">
<fx:Script>
		<![CDATA[
			import flashx.textLayout.events.FlowElementMouseEvent;
			import mx.events.FlexEvent;
 
			protected function windowedapplication1_initializeHandler(event:FlexEvent):void
			{
				import flashx.textLayout.conversion.TextConverter;
				import flashx.textLayout.conversion.ConversionType;
				var s:String = 'bla <a id="href1">href1</a> bla <a id="href2">href2</a><br /><a id="href3">href3</a>';
				ta.textFlow = TextConverter.importToFlow(s, TextConverter.TEXT_FIELD_HTML_FORMAT); 
				ta.textFlow.addEventListener(FlowElementMouseEvent.CLICK, hrefClick);
				function hrefClick(e:FlowElementMouseEvent):void {
					trace("! ", e.flowElement.id);
				}
			}
 
		]]>
</fx:Script>
 
<s:TextArea id="ta" x="13" y="16" width="273" height="224" />

Результат trace:
! href1
! href2
! href3

НО! Кликать надо с ctrl