AS3 :: External Preloader Won't Work

I'm trying to create a preloader for a site I am creating. Originally I was going to make it an internal preloader, but I ran into that issue where the preloader doesn't start until 50% (or more). After searching these forums for a solution to "that" issue, I found it suggested that the best way to fix it is simply do an external preloader instead.

When testing the preloader using the bandwidth editor, I see that the preloader animation isn't starting now until it's at 100%, instead I simply get a white screen. Once it reaches 100% the preloader animation runs through and then...nothing. My main.swf doesn't load. It just stops.

Here is my code:

Code:
var fileToLoad:Loader = new Loader();
var fileURL:String = "testmovie.swf";
var fileRequest: URLRequest = new URLRequest(fileURL);

[code]...

preloader is my movieclip with the animation, and preloader.loading_txt is a textbox inside that mc which displays the % loaded. I wanted to make it so that once the preloader (and its animation) reach 100%, the preloader mc then plays frames 101 - 124 (which are a small transition animation into the main site). Once it reaches 124 it's supposed to call the main.swf to load.