Preloading external .swf files

1

Ok…I have to have a good understanding of the full flash site tutorial. Now I wanna know how to make a preloader when u load external .swf files. I know its a tutorial on the page for doing this, but it doesnt seem to work for me. Im having problems in the transition section. Its a few things in there I dont understand. Like for one, what are the flags on the “labels” layer? Two, how was the words opening and closing put on the “labels” layer and how imporatnt is it to have those words on there? Plus, I want to know how to do it from scratch. Can anyone break this down for me?