If you leave a empty layer set at photoshop and try to import the psd file, flash psd importer will crash, at least at flash 8, cs3 and cs4 for windows.
Easy solutions:
- just removing the empty folder
- adding a “markup” layer inside the folder, so it won’t crash. Then, You can manually remove this layer after importing. (or build an automation for that)

One Comment
This appears to still the case in CS5 – your post saved me some hair-pulling, that is for sure.