Regarding the performance, I did some profiling, and the top-ranking slots were always occupied by Flash internal task, such as [render] and [pre-render] (see
this site if you're interested in what that means). This means that I cannot really do all that much about it.
What I also realized, though, (pretty much by chance, actually) is that apparently the whole stage gets repainted every frame (if you have a debug-version of the player installed, there's this "Show redraw regions" option in the right click menu). Why? Well, it appears that Flash always updates every area where an element moves -- even if it's not visible at all. This, amusingly, is also true for masked objects and the masks
themselves, making masks (performancewise) a pretty evil pitfall.
So, what I did for now is a little experiment: instead of applying the transformation matrices to the masks (and shadows/highlights) I "redraw" them every frame; apparently this redrawing itself is very cheap, only the actual rendering is where the main CPU consumption takes place. So now only the minimum necessary area gets actually repainted when dragging a page.
A downside of this is, that the banding of the shadows and highlights is now a little more apparent, because additional stripes pop up or vanish as the size of the gradient changes (wheres before I could just scale the whole gradient, also making the banding less apparent when the gradient was smaller, i.e. the page had not been dragged very far). But if the alpha isn't set too high this is barely noticeable, especially when just flipping through, and not dragging manually.
If you're interested, have a look at the current SVN revision and tell me if you notice any difference. I can't prove it, because I haven't found a way of creating a constant CPU load... but I think in average the load is lower than before. At least when the pages don't take up the whole screen space. As soon as they do everything has to be repainted anyway...
Regarding the bug: could you post a minimalistic book definition (megazine.mz3) that reproduces that problem and describe the exact way of reproducing the bug?
Also, please let me know what hardware the machines had (at least an approximate, i.e. 1ghz, 2ghz, 3ghz) because it could well be I just don't notice it because my machine is too fast (well, it's not that new anymore, but anyways). I'll try it on an equivalent machine (and if I have to use the stoneage machines at university

). I don't think anything else is much of a factor (Flash Player version, browser...), but if you have it at hand, please let me know that, too.