From SourceBinder Wiki
SourceBinder is a node-based visual framework for easy prototyping and real-time tuning of Flash based visual applications.
Node based means that instead of writing code you assemble a set of building blocks each with a specialized functionality on a canvas and "draw" the control flow or the dependencies by connecting those blocks with connector "cables". This allows you to create dynamic or interactive pieces in Flash without even having to know Actionscript.
The best way to start with SourceBinder is to go through this video
or dive into these