Good work on this.
I must admit that I was impressed with this one, and I'm normally not a fan of people who upload "a quick test". Graphics looked great, nice backgrounds. The code seemed to work perfectly. And, because I like you, a few suggestions:
The level select graphics need some touch-up. Static images in flash can hold a lot more detail.
I kicked me out of the level everytime I completed a goal, not a big fan of the interuption.
And finally, there's no real reason to move left or right. Enemies really need to come from the back or fire bullets.
Anyway, I know this might sound critical, but only because I think this has a lot of potential.
-grathgar