Problem with updating SDK in Flash builder - Flash player version

I've added another version of  SDK to my Flash builder. It's easy as CTRL+C, CTRL+V. But afterwards my projects were complaining that they don't see flash player and throws error with playerglobal.swc in it's title.

I have to mention that I was switching from sdk 3.5 to 4.1 so automatically I had to upgrade player form version 9 to 10.

In my project properties I had unchecked generating html site with embedded flash like on screen below. I thought if it is disabled IDE is not taking this into consideration. WRONG!

When I:

1.  selected "Generate HTML wrapper file"
2. put new version of flash player (10.0.0 instead of 9.0.124)
3. pressed "Apply"
4. unselected "Generate HTML wrapper file"

Errors dissapeared.

One more thing. I'm not using html wraper file. I'm not sure how it works when you have it selected. Maybe it'll update automatically. If not do it manually but with ommiting points 1 and 4 from my list.

VerifyError: Error #1053: Illegal override of z in mx.core.BitmapAsset.

Have you ever got error like in title? I was wondering what's the problem. I've checked everything twice. Spent on this some time. Solution? Check version of flash player and SDK that you're using. I had Flash player 10.1, I was compiling to 9.0 but was using SDK 4.2