In this case the error was mentioned in the Firebug console.
The solution, in this case, was to put the same files on the server or localhost.
Obviously, add a try catch block around the code that you are calling will give better error message.
Typically, this is caused by cross domain issues. This was the error generated with this message:
*** Security Sandbox Violation ***
SecurityDomain ‘null’ tried to access incompatible context ‘file:///Applications/MAMP/htdocs/project-debug/project.swf’