Neat. This may actually be a Flash bug. Here's the calculation:

var num:Number=1.265;
num*=100;
trace ('num='+num);
trace(Math.round(num)/100);

....and here's the trace:

num=126.49999999999999
1.26

So it explains why the number is being rounded the way it is but clearly
the result is wrong. This might be something to bring to Adobe's attention!

Regards,
Patrick

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I try thist:
trace(Math.round(1.265*100)/100); Flash Result: 1.26 Error, the correct answer it's 1.27
Any Ideas?