Is there a straightforward, AS2-like way to change obect color in AS3?

remember how dumb-a** simple this way in AS2.0?
[COLOR=Navy]block1Color = new Color(_root.block1.block_color); block1Color.setRGB(0x80caff);[/COLOR]

I want to change an mc’s color based on input from a .txt file, preferably a 6-digit hexadecimal designation, like “FFFFFF”. Is there a way to assign colors in AS3.0 using the old hexadecimal configuration?

Failing that, a workaround?