http://blog.flexexamples.com/2007/09/10/changing-the-cursor-in-a-flex-application-using-the-cursormanager-class/
<?xml version="1.0" encoding="utf-8"?>
<!-- http://blog.flexexamples.com/2007/09/10/changing-the-cursor-in-a-flex-application-using-the-cursormanager-class/ -->
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml"
layout="vertical"
verticalAlign="middle"
backgroundColor="white">
<mx:Script>
<![CDATA[
import mx.managers.CursorManager;
[Bindable]
[Embed(source="assets/bug.png")]
private var BugIcon:Class;
[Bindable]
[Embed(source="assets/bug_delete.png")]
private var BugDeleteIcon:Class;
private var cursorID:int;
]]>
</mx:Script>
<mx:ApplicationControlBar dock="true">
<mx:Button label="setBusyCursor()"
click="CursorManager.setBusyCursor();" />
<mx:Button label="removeBusyCursor()"
click="CursorManager.removeBusyCursor();" />
</mx:ApplicationControlBar>
<mx:Button label="setCursor()"
width="100"
height="100"
rollOver="cursorID = CursorManager.setCursor(BugIcon);"
rollOut="CursorManager.removeCursor(cursorID);" />
</mx:Application>