And it craps out at page 1 -3. with an ID Table Overflow.
I've analyzed the source and found out that indeed, the ID Table struct swfoutput_internal -> int currentswfid; exceeds 65535 because of the large number of shapes in there.
A trivial fix would be to just make it a long int and increase that check in static U16 getNewID (swf.c). I'm not a great C programmer, but anyways I'll make this change and recompile and get back to you with the results. Meanwhile any possible side-effects of this change would be appreciated.