WARNING: in a Version 8 movie you MUST use an Import2 tag instead of Import or it just will not work (Import tags are ignored in version 8 movies).
The Import tag works in conjunction with the Export tag. The Import tag gives the name of another movie and a list of external names as defined for export in that other movie. There is also a list of identifiers which represent the identifier the object(s) will have in this movie (the movie with the Import tag) and they don't need to match the source movie identifiers.
The list of identifiers given in the list of the Import tag must be unique within the entire movie. The names are only used to match the names present in the Export tag of the other movie. Thus, these can be duplicates of named sprite in this movie.
There should be only one Import per referenced movie (it would be a waste to have more). It is not clear whether a movie can Export definitions when it itself Import definitions. Also, it isn't clear what happens if such an external reference fails (I assume the corresponding objects are defined as being empty shapes).
You should at least have one external reference (i.e. f_count > 0).
The f_url parameter is a standard URL which names the object to be loaded and searched for an Export tag.
The identifiers defined in this tag must be unique within the entire movie.
Since SWF version 8, we are forced to use TagImport2 (since TagImport is ignored since that version.) It includes two extra bytes: the first one must be set to 1 and the second to 0. Macromedia termed both bytes Reserved. I put f_version in the first one so that way it makes more sense to set a 1 in there. We certainly will learn later what that bit is for.