Riku Salminen has written an article Dynamic Layout control for Flash Lite in Forum Nokia Wiki. He even quotes that the problem of not knowing if the phone is on portrait or landscape orientation is it bit uncomfortable, especially when the landscape mode scales the fonts down so that he wanted to make a very simple template for some of his own projects. This article is showing how he did and is sharing his template with us. This is just one way of making sure your application looks fine in both screen orientations in 240 x 320 pixel (QVGA) phones. In future, he is working on even more flexible and work with any screen orientation.
Further read here.
Here’s another article about the same in this Wiki How to make a Flash Lite application running in any screen orientation
You can also click here for a video preview of the Bacardi® Mobile Cocktail application referenced in this article about dynamic layouts from David Brown from www.agencynet.com.