It doesn't have potential, it is the avatar of it!
The potential for this kind of game exceeds anything the flash world has seen! The idea of making your own games on something like this is not grand, it's phenominal!
I may be giving you a low mark because it is incomplete, but when it is complete I can't wait!
Here are some ideas for things to add to the full version:
-The ability to change the color of objects(A red/green/blue adjustment feature should do the job).
-Characters are good, but allow the ability to modify certain features of it's appearence.
-Allow the ability for people to create their own weapons and spells.
-But, most importantly, the ability to export it in some way so other people can play it! (I'm no skilled person with action scripting, but perhaps there is some what you can export all the data itself into a seperate .fla file that can then be submitted and played by other people?)
These are only a handful of suggestions, but don't hesitate to finish this piece! You may well be setting the foundation for something truly great here! Not only would you have created something great, but it has the potential to allow others who lack significant actionscripting, animateing, and/or drawing skills the ability to express themselves via flash!
I bow to you, good sir, but make haste, I'm sure there are those who may decide to take the idea and steal it from you before you ever finish, ruining your chance for fame!