This is ambitious but it's not impossible. Flash Creation is a new thing, but it's been used successfully before. It's similar in concept to Hackathons, and I know that this method has been used to create at least one magazine. In fact, it's so common now that using it to create a textbook now has a specific term: Book Sprint.
But the single day is pushing it. Most flash projects are spread across at least a couple days, and the magazine drew contributions from all over the web. I'm looking forward to seeing whether they succeed.
When they're done the textbook is going to be freely available to all. That is the point of Open Educational Resources, after all. I haven't mentioned OER much on this blog, at least not by name. But I have discussed the concept. OER is just one example of how you might use a Creative Commons license to share content.
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