I was thinking a long time ago about making a video tutorial to explain how to make realistic clouds with AS but i havent had time so i decided to leave you here a file of it and a short explanation:
http://www.megaupload.com/?d=6VZ4FGV4

What you have to do is simply:
-first make a random shape with the drawings tool, make it white,
and reduce its alpha value.
-Then go to layer settings, in noise settings check noise fills and set the values in
offset: 18 and scale: 4.
The values dont have to be exactly these ones, they can be different values and still get a great result.
Check the file and you will have a better idea of what i im talking about.
If you wish you can create a layer on top of the layer with the clouds, make a square that fills the whole screen and fill it with any color, then change its layer blending mode and you will get interesting results like these ones:



Enjoy!