I just found that SilverX has been reviewed on Indonesian blog. Although I am unable to fully understand it it seems that the content is quite interesting and informative. Author successfully converted  ”Happy tree friends” Flash movie to Silverlight and there are a number of screen shots showing his work.

Author also points out that when converting large SWF movies SilverX may eat huge amount of memory. Yeah, that is true for version 1.2. Upcoming  SilverX 1.5 release in May will solve this issue and will convert much faster!