Click the above-left picture of Filter Effects applet to start the demo full screen.
Rainbow Filter Effects
I had no real idea here. I simply started with other's ideas and played with them until I had something I liked. This involves tweening, bitmap filter effects, XML, and embedded fonts.
This 33k actionscript 3 applet pulls tweener easing types and the color & letters via XML. Various filters are applied to a stage sized bitmap on each enter. Took me a bit to finally figure out how to do an embedded font via actionscript. No symbols. Everything exists in the first frame's code. Mouse on/off stage & icons for changes. Icons can be dragged, but you must be quick.
Learned bitmap filtering effect from gotoandlearn, simple XML from flashandmath.
To embed a font, so that it is visible when rotated, etc.
Here's what the actonscript 3 code regarding the embedded font looks like.