I don’t think it is a matter of works or not, but it is a matter of quality. The black flash is really amateur and I refuse to publish an app like that.
Based on Tom response, and after being ignored after my direct question if Corona would fix it or not, I understood that Corona would not fix it so I decided to find a way to solve it myself.
In my case, I changed my splash screen to have a black background and with my logo in the middle, so the black flash kind of became a transition thing and solves my problem.
But recently I found out probably a better way to deal with it. That is to have a loading scene and don’t do anything inside the main.lua (Rob, correct me if I am wrong, but it appears that default splash file is only showed while main.lua is being executed) besides moving the user to your loading scene or other code that needs to be in main. Then in your loading scene you can show your splash screen image.
I did not tried that but that should work. In summary:
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Use a black image as splash default image
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Create a loading composer/storyboard scene what will show your splash screen image and also do all game loading
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Keep the main.lua minimum, only executing there code that needs to be in the main and then redirect the user to your loading scene.
That approach is based on Joshua post here (http://forums.coronalabs.com/topic/34656-splash-screen-transition-not-smooth/)