Alternativa Game is cooking something very good in their pot. Their new game engine demo looks great. Take a look at their blogpost.
Their words about engine: “This is technological demoversion of an Alternativa3D Flash engine, which was made within Alternativa MMORPG development. This engine uses Flash player version 9 as a platform, and, as far as we know, works in all full-flash-supporting browsers. Alternativa3D is optimized with upcoming game features in mind, and utilizes some non-trivial solutions to show game graphics quickly.”