Spring ActionScript is an IoC container for ActionScript 3 that allows for dependency injection and loose coupling between application components. It uses XML or MXML configuration to define objects and their dependencies. The speaker has 10 years of experience with Flash and founded Spring ActionScript and AS3Commons. The presentation demonstrated how to use the IoC container, configure objects and properties, implement MVC architecture with operations and events, and autowire dependencies between classes. A demo application was shown to illustrate these concepts in practice.