Yea, found it, check out this class (I'm using the Flex 4 SDK):

mx.resources.ResourceManagerImpl

go to line 482 and you'll see the trick they're pulling, I'll implement this in the same way in the LoadModuleOperation, that should negate the need for your IAsyncCommand implementation.

So, this does indeed turn out to be a bug of sorts, so this thread has definitely been useful!

cheers,

Roland