Sooo, since it seems this plugin wasn't supported anymore (and I really wanted to use it) I tried to cobble together something myself....
The GOOD: I WAS able to reproduce a similar effect using the Tweenlite Plugin without any of the quirky errors discussed in this thread also with much more customization
The BAD: It's not as smooth, but it will definitely serve as a poor man's version of the flip Sprite plugin
-Still have a sprite with two frames (could easily add more too, I think someone asked about that earlier in this thread?)
-On click, start a tween of the sprite's width down to 0 'absolutely' (give the tween a duration of about 0.5 seconds with an easing of your choice -- "EaseInBack" gives you a nice little pulsation at the beginning and end)
-This is now considered the halfway point of the flip so now with the width set to 0, set the animation frame to the second image in your sprite
-Call the "reverse" tween function
Voila! Again, it's not as smooth as the Flip sprite plugin and there is a bit of perspective lost as it's not an actual 3D transform but it will do. Perhaps the smoothness is because it's not hardware accelerated? (SOURCE?)
Enjoy all, and cheers to Pode for exposing me to this behavior and inspiring me to work around the issues I was having.