Maybe indirectly, as the tool doesn't run on MorphOS ;-) Joking aside: the tool needs FLA files (Flash source code) as input, so it's of no use for mere users but only for developers of Flash software. Generally, if developed further it could lead to more of them additionally offering an HTML5 version of their software (including banner ads ;-)
Similar approaches:
http://smokescreen.us (takes compiled SWF files as input) http://www.jangaroo.net
Edit: New platform-independent approach called Shumway: https://morph.zone/modules/newbb_plus/viewtopic.php?topic_id=7395&forum=11&start=10
