Okay, I am not an actionscripter so I do not know if this is possible. However, if it works this would be funny as hell.
The "protection" actionscript where the flash checks to see if it is hosted on a particular domain before executing I imagine would similar to the php commands
$_SERVER['PHP_SELF'];
$_SERVER['SCRIPT_NAME'];
$_SERVER['REQUEST_URI'];
Where basically you can do an if, elseif, else based on the results.
Well, how about this, write those commands in, even give access to run on localhost, but the trick would be in the "else" command. being any result that is not already covered to play (ie, not NG, whatever else you submit, your page, and localhost).
Have the else command start to run the show for about a minute (to let it slip by admins who give a cursory view before allowing it to go live on steal sites), but after that minute have all hell break loose. Purposely execute pop-ups to your site, to porn sites, stupid shit, a page explaining that the flash is stolen, whatever,
Basically a way to try and get the viewers annoyed with the unauthorized site hosting the file.
Thoughts? Possible? not sure how the actionscript works but I know I could write something like that in PHP.