by "supporting" other languages they mean they can compile the interpreter's c/c++ source code using their LLVM->actionscript bridge (http://blog.digitalbackcountry.com/?p=1095) they came up with and then run the script on top of that actionscriptified interpreter.
which, even for people like me who drink the interpreted-languages-are-fast-enough koolaid, seems like a lot of levels of indirection :) i think the CLR approach seems a little more straightforward: "native" interpreters that compile e.g. python->the CLR IL (instead of python->interpreter c source->llvm->actionscript).
and i doubt you could just take e.g. the python interpreter and throw it into a SWF -- certainly pieces of the interpreter along with C modules that interact with the filesystem, etc. would need to be tweaked to deal with the AIR runtime.
cool idea though, and they even got quake 1 (!) running in a SWF (see the video below in this thread... wild stuff)