This is a surprise: Adobe announced Director 11 – the follow-up release to Director MX 2004. After years of speculation Adobe seems to be committed to develop Director further.
There is a rough comparison chart on the Adobe site which compares Director to Flash. I am not quite convinced the advantages of Director over Flash will set it apart and (re-)create its own market (or re-create its former market). The ubiquity of the Flash plug-in, YouTube & Co, ActionScript 3 and Flex have brought a lot of seriousness to the Flash platform in the past 3-4 years.