Form controls are distorted / improperly rendered when scrolling up / down with the scroll-bar's up / down button

Steps to reproduce:
1. Import the attached sample application SimpleForm.zip
2. Run the application in either IE or FF using Flash Player 10,0,32,18 (debug or standard version)
3. Re-size the browser window so that vertical scroll bars are enabled
4. Click and hold down the down "arrow" button on the vertical scroll bar to scroll the window

Actual Results:
Notice that Labels, TextArea, RadioButton, ComboBox controls are distorted (see attached screen-shots)

Expected Results:
No form controls should be distorted

Workaround (if any):
There are 2 known workarounds for this issue that I've found:
1. In the attached example, removing the layout="absolute" from the <mx:Panel> component
2. Compile the Flex project using SDK 3.4 or above