Preloading child movies into parent movie

hey everyone,
I have a parent movie which contains a preloader movie that i want to activate when child movies are loaded into the parent movie, similar to http://www.muppets.com
my preloader is 3 frames the first frames as is:

bytestotal = loader2.getBytesTotal();
bytesloaded = loader2.getBytesLoaded();
percentloaded = Math.round((bytesloaded/bytestotal)100);
if (bytestotal == bytesloaded){
gotoAndPlay(3);
}
if(percentloaded !=100){
setProperty(_root.loadingmove.loaderbar.sliderbar,_xscale,percentloaded
2);
}

where loader2 is the load window
the second frame sends it back to one and the third frame just has stop();

when a button is clicked inside the first child movie, it loads another child movie in the loader2 window. It also calls for the preloader to gotoAndPlay(1);as to reactivate the preloader. And it calls set the text of the preloader to Loading (scene name) as follows:
_root.loadingmove.loadingtext.text = “Loading Entertainment”;
The movies load fine but the preloader doesn’t work and the text in the preloader doesn’t show up. Does anyone have any idea why this won’t work??
Thanks for your help.
Mat