Вот так точно работает:

Код AS3:
public class TahomaFont {
[Embed(source = "../../../../lib/TAHOMA.TTF", fontName = "Tahoma",
mimeType = "application/x-font", advancedAntiAliasing="true", embedAsCFF="false")]
private var font:Class;
public static const NAME:String = "Tahoma";
}