The 60s timeout happens just the same for me on 0.8.10, so I don't think this bug can be blamed on recent changes.

Backtrace showing the problem (useful to deal with this):

(gdb) bt
#0 0x00007fab7173366b in pthread_join (threadid=140373989623552, thread_return=0x0) at pthread_join.c:92
#1 0x00007fab71f159e7 in std::thread::join() () from /usr/lib/x86_64-linux-gnu/libstdc++.so.6
#2 0x00007fab745ec4fb in gnash::MovieLoader::clear (this=this@entry=0x7ffff5512ad8) at /usr/src/gnash/gnash-head/libcore/MovieLoader.cpp:189
#3 0x00007fab7457f583 in gnash::movie_root::~movie_root (this=0x7ffff5511ff0, __in_chrg=<optimized out>)
at /usr/src/gnash/gnash-head/libcore/movie_root.cpp:194
#4 0x00007fab74ce9333 in gnash::Player::run (this=<optimized out>, argc=<optimized out>, argv=0x7ffff5513cf8, infile=..., url=...)
at /usr/src/gnash/gnash-head/gui/Player.cpp:666
#5 0x00007fab74cc432a in playFile (player=..., argc=2, argv=0x7ffff5513cf8, filename=...) at /usr/src/gnash/gnash-head/gui/gnash.cpp:92
#6 0x00007fab74cc2e17 in __call<void, std::basic_string<char, std::char_traits<char>, std::allocator<char> >&, 0ul, 1ul, 2ul, 3ul> (
__args=<optimized out>, this=<optimized out>) at /usr/include/c++/4.8/functional:1296
#7 operator()<std::basic_string<char, std::char_traits<char>, std::allocator<char> >&, void> (this=<optimized out>)
at /usr/include/c++/4.8/functional:1355
#8 for_each<__gnu_cxx::__normal_iterator<std::basic_string<char>, std::vector<std::basic_string<char> > >, std::_Bind<void ((std::reference_wrapper<gnash::Player>, int, char*, std::_Placeholder<1>))(gnash::Player&, int, char*, const std::basic_string<char>&)> > (__f=..., __last=...,
__first=...) at /usr/include/c++/4.8/bits/stl_algo.h:4417
#9 main (argc=2, argv=0x7ffff5513cf8) at /usr/src/gnash/gnash-head/gui/gnash.cpp:176
(gdb) frame 4
#4 0x00007fab74ce9333 in gnash::Player::run (this=<optimized out>, argc=<optimized out>, argv=0x7ffff5513cf8, infile=..., url=...)
at /usr/src/gnash/gnash-head/gui/Player.cpp:666
666 log_debug("Main loop ended, cleaning up");


Can be reproduced with this:
http://strk.keybit.net/tmp/bubbletroublewm.swf

... as long as "http://64.239.33.252/stats/SWFcounters/BubbleTroubleOS@BubbleTroubleOS.swf" keeps hanging