Is there anyway you can ‘hide’ all the DisplayObjects around the crosshairs on a movie clip?
For example:

If I dragged a that movie clip onto the stage, how could I have only B show? and have A hidden?
EDIT: Basically, the image shows two rectangles in a MC named “First”. If I were to drag this movie clip onto the scene, I only want rectangle B to be shown. When the mouse is hovered over B, an event listener is triggered which slides rectangle A down to ‘overlay’ B. I don’t want A to be shown otherwise.
Thanks.
Sounds like a mask is what you need:
http://help.adobe.com/en_US/FlashPlatform/reference/actionscript/3/flash/display/DisplayObject.html#mask
http://www.the-flying-animator.com/flash-mask.html