Features:

• NO FLASH REQUIRED, completely customizable through xml & html
• Reads RSS 2.0 feeds. (Will update to include atom feeds if requested enough).
• Liquid GUI which makes it possible to show at any size.
• Draggable channel buttons make it easy to sort. Move the white divider lines to resize each panel.
• Liquid GUI which makes it possible to show at any size.
• Customizable colors. Nearly every color can be set in the xml.
• Add, delete, and move controls can be easily be turned on or off.
• AutoUpdate feature that updates the feeds after a specified number of minutes.
• Option to prevent users from deleting the first few channels.
• The channels bullet can be set to a circle, square, triangle, or the image url of the feed.
• Fonts are embedded through external files. As such, you can specify our own font by creating a swf with the embedded font. (This requires flash.)
• Keeps a record of invalid feeds to make it easy to troubleshoot when feeds are working.
• View the xml easily by typing "xml" into the feeder. (This keyword can be changed in the xml).
• The title, which appears as the channel button, can be set when adding a feed or by modifying the xml.
• When the feed cannot connect, a question mark is inserted before the name.
• The viewer recognizes the expirationDate property used in RSS 0.91. This makes it easy to remove items in your own personal news feed.
• Includes all source fla files.

Includes both a SWF version deliverable via the web, and an AIR version for installation to the desktop. If you want to use this as a desktop application, you will need to install Adobe Air. Once you have Adobe Air installed, you will be able to install the reader without needing anything else. 

***NOTE: Due to the security restrictions implemented by Adobe, Flash cannot directly load RSS feeds from across different domains. In order to work around this, the reader uses PHP to retrieve the rss feed and then sends it to the reader. This requires a minimum of php 4.3.0 to be installed on the server. This feature is only required for cross domain feeds. If you are loading feeds from the same domain (ie. your own news feeds), then you will not need to use php.