Burning Link Effect - Help

First post, and I tried searching for it, but thing is… I don’t even know what to call it. Alright so I have been working with flash for about a month now and I really have a good grip on it. Recently I came across Kirupa and looked at the ‘Site Of The Week’ section and saw this site.

http://www.xscapeproductions.com/main.htm

The effect he does with the links is eye candy to me, and I want to learn how to do it or where I could find out about, if anyone has any input, please reply.

Thanks in advance. I would really appreciate it.