I played around today with a method named setTint from the fl.motion.Color class. At first I was a bit confused because this method doesn’t return anything contrarily to the interpolateColor method which returns a color in hexadecimal. You have to use setTint in this way:

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import fl.motion.Color;
import flash.geom.ColorTransform;
var ct:Color = new Color();
ct.setTint(0xFF0000, 0.5);
mc.transform.colorTransform = ct;

With mc being the displayObject you want it applied on. setTint can be pretty useful for setting a tint on a bitmap and it can also be used with tweens in the same way I used the interpolateColor in a previous post.