I'm loving the new Flash Builder and 4.5 SDK. I don't know if everyone came to the same realization that I did... but "states" are awesome now with the 4+ SDK! You can change ANY property on the fly. Take for example a two stage button:

<s:Button icon.viewing="{Icons.PENCIL}" 
	      icon.editing="{Icons.DRIVE}"
	      label.viewing="Edit"
	      label.editing="Save"
	      click.viewing="{currentState='editing'}" 
	      click.editing="{currentState='viewing'}"
	      />