Dunun.fr preloader style

Does anyone know a tutorial that can explain how to assemble a preloader like the one found on:

http://dunun.fr/

It has a preloader that is visually attached to the cursor that appears to monitor/measure external swf bytes and then disappears once loaded. I’m not so much interested in the preloader visual attached to the cursor as I am interested in simplifying the preloading process. I’d like to create a single preloader checker function that monitors all other externally loaded SWFs.

Right now, I’m still using the technique of creating individual preloaders for every single external swf, and that’s a big pain in the butt. If you have any tips or tutorials, please point the way!

Thanks.