I can develop such player for You. Please write me an email to piotr.machowski [at] subeli.com and we will discuss the details.
Anybody can help me build web flash player like this one http://vplay.ro/watch/qzus5ymf/ but with multiple subtitles option?
I would need a player, that can be embed, easy to setup and support if not unlimited, then at least 8 different subtitles.
Amazing thing would be to create something like this http://labs.divx.com/WebPlayerCodeGenerator where I could add FLV file + add subtitles and I will generate my embed code for my website.