Since version 7 of SWF, there is a new way to create a function allows you to not only name parameters but also to put their content in a register. This is done by specifying a register number along an (optional) parameter name.
The f_param_register specifies whether the corresponding parameter will be saved in1:
Note that the auto-generated variables (those defined by the "preload" flags to the Declare Function (V7)) are also saved in registers. You have to make sure you save your own variables in registers that are not already in use by these system variables2.
The f_param_name string will be ignored whenever the f_param_register parameter is not zero. Otherwise, it is used to save the corresponding parameter in a variable of that name. Since up to 255 registers can be used, it rarely will be necessary to save local variables in named variables when using the Declare Function (V7) action.