Nope. I don't adapt the mesh from frame to frame, I rebuild it completely on every frame. That's the first half of the "msec" diagnostic, so you can see I optimized that part quite a bit. The general idea (bintrees of right triangles, splitting based on screen-space error) is indeed taken from the ROAM paper, but everything else from that paper I threw away and made up my own algos.
Nice, and very fast indeed. Only thing I don't like is the inverse control, maybe because I'm hardwired to maya viewport. Keep up the good work, nice to see flash isn't dying out. Can't wait to see that rumored 3D API.