i would always use something like this
mydata = new LoadVars();
mydata.onLoad = addItems;
function addItems() {
mytext.multiline = true;
mytext.wordWrap = true;
mytext.type = "dynamic";
mytext.border = false;
mytext.html = true;
mytext.htmlText = myData.text;
myscroll.setScrollTarget(mytext);
}
mydata.load("whatever.txt"

;
formStyleFormat = new FStyleFormat;
formStyleFormat.scrollTrack = "0xffffff";
formStyleFormat.highlight = "0xffffff";
formStyleFormat.highlight3D = "0x000033";
formStyleFormat.arrow = "0xffffff";
formStyleFormat.face = "0x000000";
formStyleFormat.background = "0xffffff";
formStyleFormat.shadow = "0x000099";
formStyleFormat.darkshadow = "0x000033";
formStyleFormat.addListener(myscroll);
formStyleFormat.applyChanges();
stop();