Hit Object Question

Hi all
I am trying to implement hit object in my project. I have sprite class and I am loading multiple instances of UI Loader in my sprite class and displaying it on the main screen. The user can drag and drop those UILoaders on the main stage wherever they want.My aim was that if user drops one UIloader on top of already placed UiLoader, then the already placed UILoader will be replaced with the dropped UILoader. I am successful in implementing that by hitting hitTestObject method. All of my UIloaders are having green color border. Now my requirement is that as soon as the user places UILoader on top of already existing UILoader , the UILoader which is going to be replaced changes border color from green to red showing the user that the UIloader is being replaced and on Mouse release the UiLoader is going to be replaced.
In short on mouse over, the border color has to be changed and on mouse release, object has to be replaced. I am adding my rectangle(in Sprite Container) as the border to the UILoader. Below is some code to make things little clearer
Please help me in figuring out the problem.
Any help will be appreciated.
Thanks
Anuj
/*CODE
//UILoader Being Created
function CreateUILoaderObject(num:Number):DisplayObject
{
var myUILoader:UILoader = new UILoader();
var container:Sprite=new Sprite();
myUILoader.name=“myUILoader”;
myUILoader.source = “/video/pic_”+(num+1)+".swf";
myUILoader.load();

    //Defining Border for the Selected Camera
    var ldrBdr:Sprite = new Sprite();
    ldrBdr.name = "border";
    ldrBdr.alpha=0;
    ldrBdr.graphics.lineStyle(2, 0x00ff00);    
    ldrBdr.graphics.drawRect(myUILoader.x+23, myUILoader.y+45, myUILoader.width, myUILoader.height);
    
    //Defining Border for the replaced Camera
    var BdrRep:Sprite=new Sprite();
    BdrRep.name="RepBorder";
    BdrRep.alpha=0;        
    ldrBdr.graphics.lineStyle(2, 0x00ff00);    
    ldrBdr.graphics.drawRect(myUILoader.x+23, myUILoader.y+45, myUILoader.width, myUILoader.height);
    
    myUILoader.addChild(ldrBdr);
    myUILoader.addChild(BdrRep);        
    container.addChild(myUILoader);        


    //Enabling Dragging & Dropping of Video Loader Anywhere
    myUILoader.addEventListener(MouseEvent.MOUSE_DOWN,dragUILoader);
    myUILoader.addEventListener(MouseEvent.MOUSE_UP,dropUILoader);
    myUILoader.addEventListener(MouseEvent.MOUSE_OVER,showBorder);
    myUILoader.addEventListener(MouseEvent.MOUSE_OUT,hideBorder);
    return myUILoader;
}

//Show the selected Camera with green Border
    function showBorder(e:MouseEvent):void 
    {
        e.target.getChildByName("border").alpha=1;
    }
    function hideBorder(e:MouseEvent):void 
    {
        e.target.getChildByName("border").alpha=0;
    }
//UILoader to be replaced
 function dropUILoader(e:MouseEvent):void 
    {
        
        if(e.target    is UILoader)
        {
            var myUILoader:UILoader = e.target as UILoader;

        if (mouseY<746) 
        {
            myUILoader.stopDrag();              
          var trackChild:Number=container.getChildIndex(myUILoader);
           var childContainer:DisplayObject= container.getChildAt(trackChild);
                    for (var z:Number=0; z<=container.numChildren-1; z++) 
                    {
                        var restChild:DisplayObject=container.getChildAt(z);
                        if ((childContainer!=restChild)&&(childContainer.hitTestObject(restChild))==true) 
                        {
                            container.removeChild(restChild);
                        }
                    }