Flex :: Capture The Result Of 'trace' In Code?

In Flash/Flex, is it possible to capture the result of 'trace' in code?

So, for example, if one part of the code calls trace("foo"), I'd like to automatically capture the string "foo" and pass it to some other function.

Edit: I'm not interested in trying to use trace instead of a proper logging framework... I want to write a plugin for FlexUnit, so when a test fails it can say something like: "Test blah failed. Here is the output:

Edit 2: I only want to capture the results of trace. Or, in other words, even though my code uses a proper logging framework, I want to handle gracefully code that's still using trace for logging.