If your getting this error, just make sure that you have the same Flex SDK on both the dependent SWC’s and the Flex Project. In addition, after bringing in the SWC make sure you do a clean and build on the project. Then the error will be gone.
origin lead came from http://theagiletdog.blogspot.com/2009/07/solving-error-2007-parameter-blendmode.html
Now we just need all our vendors who provide SWC files to recompile them to the same version as each other!