I've been looking at this as well, and the best guess I've had at the .ab format is that it uses TTComp, which was a tool/library developed by SWFTE.
As I say, it's a best guess and it could be completely wrong. I've had no success trying the tools I've managed to get hold of that claim to be compatible because they don't run in a 64-bit environment and I haven't had the time to try it on a 32-bit machine/OS.
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