AS work in 6 but not later version

Hello all, just a quick question: found a tutorial long time ago, and now in school I took that file (where they have flash cs3) and the code is not not working. Here is the code any ideas?

Cheers

on (rollOver)
{
    b = true;
}
onClipEvent (load)
{
    st2 = 50;
    st3 = 10;
    myColorTransform = new Object();
    myColor = new Color(this);
    bb = 0;
    rb = 0;
    gb = 0;
    offset = 0;
    b = false;
    st = st2;
}
onClipEvent (enterFrame)
{
    if (b)
    {
        offset = offset + st;
        if (offset > 100)
        {
            st = -st3;
        } // end if
        if (offset < st3)
        {
            st = st2;
            b = false;
        } // end if
    } // end if
    bb = offset;
    rb = offset;
    gb = offset;
    myColorTransform.rb = rb;
    myColorTransform.gb = gb;
    myColorTransform.bb = bb;
    myColor.setTransform(myColorTransform);
}