Here's a simple augmented reality test that relies only on Flash Actionscript. It uses FLARToolkit, an actionscript port of ARToolkit (one of the oldest and most widely used AR libraries), for the glyph tracking and papervision3D for 3D rendering.
Since this is actionscript only, these sorts of applications can be deployed on the web really easily. Unfortunately, the down side is in performance. You're pretty limited as to frame rates and polygon counts, so it's best to use this for interesting interactions rather than for robust, full featured, or overly pretty ones.