Global control of Text, background colour etc

I have tried to locate any guidance how you would go about creating a small control panel that would allow a user to adjust the size of the text, its colour and say the background colour too using actionscript 3.:krazy:
I understand that text formatting can be done on dynamic textfields but can this be achieved on static textfields?
I am currently putting together a number of modules each a swf that contains e-learning and to comply with DDA. Can anyone shed some light on this for me. Thank you