Day 2 was focused more on developers. Though given the complete lack of mention about any of Adobe's enterprise products the definition of developers here has been limited to those doing front-end work.
Things started out with demos of PhoneGap, showing off some of it's powerful cross-platform capabilities. PhoneGap Build - will be bundled as part of the Creative Cloud subscription. Adobe's looking to bring their experience with tooling to the PhoneGap project.
Ben Forta mentions, "Almost all the Adobe Touch applications are built with Flash", or more specifically, AIR 3. One of the nice new features of AIR 3 is Captive Runtime which bundles the AIR runtime right into the app rather than having to download it separately. This is how deployment to iOS has always worked but it's now available for Android builds as well.
There will soon be pre-release updates to Flash Builder and Flex 4.6 that add controls specifically for tablets. There was also a very brief mention of Windows Metro as a target platform.
Edge Preview 3 was demo'd. They've added interactivity and the tooling is very similar to the way Catalyst works, while the UI seems to be influenced by After Effects. Behind the scenes it's using jQuery.
Adobe has created ThemeRoller, used for creating jQuery Mobile themes. It will be available in a couple of weeks as part of an update pack for Fireworks.
CSS Regions and Exclusions are projects that Adobe has been working on to enhance web development. Regions allow text to flow between linked elements while exclusions allow an element to force text to flow around it. These have been submitted to W3C. Microsoft has said they will support them and Adobe's working to get them integrated into WebKit.
CSS Shaders are essentially using PixelBender in the browser via css WebKit filter properties. This has also been submitted to the W3C. The results look amazing. Read this DevNet Article for more info.
Starling, the framework for taking advantage of Stage3D to do 2D animation was demo'd and of course, Rovio is there to talk about Angry Birds. They've built a brand new Angry Birds engine built on Flash Player 11 using Starling that adds lots of rich new animation as a result.
To see some Stage3D content in action, try out the Nissan demo they showed here: http://nissan-stagejuk3d.com/
The real big surprise and possibly the coolest announcement came at the end as some guys from Epic showed off Unreal Engine 3 running on Flash Player 11. Looks like they are using Alchemy to make this possible. Adobe aren't messing around with 3D here. Between this, the upcoming Unity release and the existing 3D frameworks for Flash they've really built a solid platform here.
As many people noted though, the basic message seems to be that for the web, HTML 5 is where everything is headed unless you're doing 3D, then Flash is the way to go. The other role for Flash is really in the form of AIR as a way to build cross-platform apps for devices.
To get links to all the content in this keynote Adobe has a nice summary page: http://adobe.com/go/maxday2