Somebody say Flash?
Guess that's my cue...
Hey Alpha7, If I am understanding your question correctly you want an application that can receive, read and display rss feeds from another site.
To effectively do this a couple of things have to be done to allow flash to read the data. As flash cannot read rss data, it must be set up to allow it to do so.
A basic rss reader is set up with what is called a SimpleRSS class. The application receives and parses the information and the SimpleRSS class provides the interface and displays the data.
For flash to be able to read it, it must first be converted to a flash recognizable format. XML is one of those. You can build an application which parses the rss data to xml and dynamically send that to a flash interface which can then read and display the data.
I'm probably making this sound more confusing, sorry. Basically what we are doing is changing one language (the RSS feed) into another (xml) that flash speaks. If you are interested in building an application like this, start
here
This is set up for ActionScript 3.0 which is available in Flash CS3 (the newest) but can be done in AS2 as well, I believe you said you had MX? That is AS2.
If you have any questions or need further help, please let me know.
Hope that helps.