Check out Flash Framer’s new Flash Component called magneticMenu.  The magneticMenu Flash component displays icons, images, or flash files in a magnetic like menu. When a user mouses over an icon the icon is attracted to the mouse pointer much like a real magnet.

Component Inspector

This new Flash component also supports both a horizontal or vertical mode. One other great feature is the ability to apply the menu’s settings right through the component inspector within Flash.

Key Features Provided by magneticMenu:

• All settings and photos can be changed through the component inspector or the XML file
• Customizable spacing
• horizontal or vertical format
• Supports all Flash image formats
• Supports .swf files
• ActionScript API available

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This tutorial by Flash Farmer covers how to create a dynamic Flash XML navigation menu using Actionscript 2.0 and XML. Each button has a roll over and roll out animation. Control the clickthroughs, button titles and the total number of buttons with the external XML file. Once the Flash file is created you can update the menu just by editing the XML file.

This file consists of a nice structure and code is well commented.  Also, files to be downloaded comes along with full offline documentation.

Example of final product: