SilverX is a free software which aims to help Silverlight designers/developers for converting existing Flash content to Silverlight.
It supports most of the Flash’s basic features like: vector primitives, images, texts & animations.
SilverX can be used for other scenarios as many applications has “export to SWF features” which means they can be converted to Silverlight now (ex: exporting CorelDraw vector graphics to SWF file and then convert it to Silverlight XAML).
The software has clipping layers, sounds, buttons & filters/effects in the roadmap.
Requirements: Windows OS