[FMX] Navigation help - elastic movie clip (?)

I am interested in building a nav system like www.frontmedia.co.uk . I am a newbie at Flash. I was wondering if someone could break down how it is actually built.

Is it a movie clip that has an action script for the elasticity attached to it? Are the buttons within the movie clip controlling the movement? Both?

Sorry - I am not even sure where to start on this one…

Thanks in advance…

hey, is there any way you could post that fla file?