Can flash load in SWCs at runtime?

Beginners Intro to SWC files
SWCs are ZIP archives with two files in them:

[]catalog.xml - Lists all classes contained in the SWC along with their dependencies.
]*library.swf *- Contains all the actual classes

So theoretically…
It should be possible to load in SWC files at run time and use the classes from them, right?

You may have to unzip it first and extract out the SWF, but this arduous process could be made easier with a few helper classes. In fact, having the “catalog.xml” there may also make it easier to identify which classes are contained within (which means you don’t need to guess or assume which classes are in it).

Has anyone tried this yet or know of anyone else who has?

I searched Google for a bit, but most results actually were actually mislabeled, and loading the SWC in at compile time. I found nothing relevant, so asking here is much easier. (-: