Best practice for creating text links in Flash?

I was wondering what the best practice was for creating text links in flash? I know how to create a button of course, give it an up, over and hit state. What I normally do is copy the text into each frame, and change the colour for each so that the user can tell when they’re hovering and hitting the button. For the hit status, I draw a square for the hit.

But this can be time consuming if you have a lot of text links throughout your site. Especially if you want to change the text colour of your over and hit frames.

So I looked into making a better solution using Actionscript, which was having a function for each of the status, where you change the colour of the button.

I was wondering if anyone else had any other thoughts or wanted to share how they do their text links?