Sony Ericsson's Project Capuchin doesn't get that much attention from the developer community but I think it's an interesting initiative. It combines the underlying power of Java ME with the front end flexibility of Flash. There are plenty of Java ME GUI frameworks out there these days but they still require the interface to be built by Java programmers which is problematic for a number of reasons.

Project Capuchin is mandated across all new SE feature phones so it looks like it's a fairly stable application execution environment. They even provide a full set of UI components (recently updated) to help interface designers get started. The only real problem with this project is that it's specific to Sony Ericsson devices which is very limiting in terms of reach and relevance in a time when Sony Ericsson's fortunes are on the decline.