No. You're not understanding LLVM.
http://llvm.org/pubs/2008-10-04-ACAT-LLVM-Intro.html
Read the PDF.
Pages 9 and 10 show a graphic chart. Take a stab at where the Flash curved square would fit on that pyramid.
LLVM supports Just-In-Time optimization and compilation
■ Optimize code at runtime based on dynamic information
■ Easy to retarget existing bytecode interpreter to LLVM JIT
■ Great for performance, not just for traditional compilers