Color change setup...ponderings

Lets say I was to start making a swf in which the using would be able to select a color, from a simple color picker, and in turn it would color the object of interest that color. In this case I’d like to set it up so that there’s 8 to 10 paint colors and, when selected, the color of the walls of a room would change to the color of the paint selected.

I know there is an easy way to do this by just making the colors buttons and having them move to different frames containing the different pictures, but is that really the best way? That can’t be. Plus it’d be nice to have it a little smoother, and I’m sure I can achieve that in a less tedious fashion with actionscript.

If you were to set out to do said project, how would you go about it?