Does exe guarder support the widnows exe file created by Adobe Flash CS5?

Yes. Exe guader can add password protection to windows executable file created by adobe flash all version. Not only flash, exe-file created by other authoration tools are also supported. Some exe-file need to keep size unchanged, you can uncheck "Compress exe-file" to fix it. Certainly, you can also add trial period to such kind of exe-file.