That is just fading, I think what fuchsia16 wants is like an RGB slider where when you move the bar the hue of the image changes.
I don’t know how to do that though. Maybe I should get my arse off scripts that are all coding color stuff and start make more dynamic things like this. I just don’t have the time lately, besides, I don’t use Flash 5 :-\
All I can do is give you a tiny nudge and point you in the right direction. This looks like sort of what you are going for (not fully, but sort of)…
[<B>EDIT: </B>Post replied to was deleted by poster, I am not talking to myself ]