If Flex does not generate a SWD file or there is no *.dat file in the Profiler directory, check for the following:
If you make changes to the mm.cfg file, you must close all browser windows for the changes to take effect.
The flex_app_root/WEB-INF/flex/frameworks_debug/mx_debug.swc file must be present.
The <debug-lib-path> setting in flex-config.xml file must point to flex_app_root/WEB-INF/flex/frameworks_debug/.
The <production-mode> setting in the flex-config.xml file must be set to false to generate profiling data.
The value of the ProfilingOutputFileEnable property is set to 1 in the mm.cfg file on the client requesting the application.
Check that Flex is writing data files to the server_root/profiler/WEB-INF/ProfilerData directory. If the application to be profiled is small and you have minimal profiling information, Flex might not initially write a *.dat file. Close the browser running the application before running the profiler application. This flushes the buffer and forces Flex to write the data to disk.