I installed Flexibilty 2 on an existing blog and there are several things not working correctly. 

The primary problem seems to be that the derived URLs for some functions is not correct.  My installation is HTTP://mydomain.com/wordpress/…..lexibility 2/…

Some of the funtions are using HTTP://mydomain.com/wp-content/…

I have been able to correct some of the issues through the functions.php file but still having problems.  I assume the WP funtion "bloginfo('template_url') handles this but I have not found a way to correct it.