First off, do you have an instance of the bullet1 on the stage with the instance name of bullet1?
If you do then it will probably work. The next thing that you may want to try is having your if statement trace out something like "Space has been Pressed!"
trace("Space has been Pressed!"); to make sure that the statement is actually returning true.
Additionall make sure that your if statement is within an onEnterFrame event function, if it isn't i twill be checked once and then nothing else will be done with it.
I noticed that you say it should be moving on the second to last line
QUOTE
It SHOULD moving ( the bullet ) but it isnt.
but I don't see why it should be moving. From what I have read you just have a single if statement that tells the movieclip to play its tween and nothing else. So from what you have provided the movieclip shouldn't be moving, but staying in a single position. Granted it should probably be playing but there are possible reasons that it isn't doing that either.
If you try this code instead of what you currently have does it popup any messages?:
CODE
if(Key.isDown(Key.SPACE)){
trace("Space key pressed");
bullet1.play();
}
NOTE - You can just say
bullet1.play() because it will go through and play the movieclip until it gets to another frame in which it is told to stop (which should be the first and only the first frame of the animation so it will stop when it is about to start repeating the animation).
Hope that helps.