In a way, it means you can view flash-based things. That's because SplashTop hooks you up to your [running] home computer and you can manipulate it as if you were there. Which means you can go to sites that are flash based - your iPad will see/link to what's on your home computer.
It's a connection to your own stuff, so it's not as fast as if you were using the iPad to connect directly. But, as Tim says, it's one of the better remote access apps out there.
Of course, and as always, YMMV.
Marilyn