import fl.motion.easing.*;
import com.gskinner.motion.GTweenFilter;
import com.gskinner.motion.GTween;
 
var coltw:GTween = new GTween(foo.transform.colorTransform, 4, { redOffset:255, greenOffset:0, blueOffset:0 }, { ease:Circular.easeOut } );
coltw.setAssignment(foo.transform, "colorTransform");
 

GTween: http://gskinner.com/libraries/gtween/
FLA: http://www.davidortinau.com/exhibits/gtween_color/colorTransform.fla