1) Will Adobe continue to develop and support Flash ?
Yes, it will. Please check adobe milestones here http://wwwimages.adobe.com/www.adobe...es-roadmap.pdf
2) Is there still a demand for Flash and Action Script developers out there any why ?
I think you mean anyway. I believe yes, as long facebook apps (and games) will continue to support it. Many of the most succeeded games in FB are writeen and maintained in flash. Also, with Air 3.6 and stage3d you have the tools to produce really fast mobile applications for ios and android, succesfully targeting app store and google play accordingly. As a conclusion, I do believe that flash is not dead yet.