Working with senocular Transform Tool - How to remove/disable tool for objects

Im new to AS3, and i have to use it for my current project. I have used the AS2 Transform tool extensively, but needless to say, the AS3 version works entirely differently.
The way i understand it, the tool applies to and every Sprite , movieclip on stage

// selecting objects on the screen
function select(event){
if (event.target is Stage) {
currTool.target = null;
}else if (event.target is Sprite) {
currTool.target = event.target as Sprite;
toolInit();
}

However, is it possible to control sprites, movieclips targets with code?
For example, if i place a component on the stage such as colorpicker etc, its functionality is disabled because of the transform tool. This was easily done in AS2 version by adding or removing objects in the code.
Also, unlike AS2 version, the new tool doesnt apply to textfields. Can this be done?

thanks for any tip

adrian