This file loads variables from it's embed tag for background color, load bar color and image paths so it has to be viewed with the HTML not by directly viewing the SWF. All the actions are localized into one script. If you open the file up in Flash you will see a small orange + in the upper left corner. If you select that object you will see the script associated with it that executes most of the actions for this movie. Most everything happens on enterFrame with most of the actions being set onLoad inside that object.
Sample Page: http://newmedia.walkerart.org/example_files/two-images/
File Download: two-images.zip
We currently have 3 live implementations of this movie at Visual Arts, Film Video and Performing Arts.