If IExternalizable.readExternal is overridden with a value that is not a function, Flash assumes it is a function even though it is not one. This leads to execution of a 'method' outside of the ActionScript object's ActionScript vtable, leading to memory corruption.
A sample swf is attached. ActionScript code is also attached, but it does not compile to the needed to swf. To get the PoC, decompress the swf using flasm -x myswf, and then search for "teadExternal" and change it to "readExternal".
Proof of Concept: