1. Installation
Having installed the flashTooltip component using the Macromedia Extension Manager open Flash and start a new file.
2. Preparing the button or movie clip for use with the flashTooltip
First you need to place the item you wish to create a flashTooltip for on the stage. You can either add the tooltip to a ready made button such as the Macromedia UI button or the Bit Component Set's PushButton, your own button, or a movie clip.
When creating your own button or movie clip you must ensure that the button or movie clip has a top-left registration point. To do this, simply select the top-left registration point square when creating your button or movie clip, as shown in the image below (Note: If your button or movie clip is already created without the top-left registration point, you can change this by editing the button/movie clip and moving all of the elements inside to an X/Y of 0,0).

3. Assigning an instance name
With the button/movie clip selected Press Ctrl+F3 (Windows) or Cmnd+F3 (Mac) to open the properties panel and give the component the instance name 'myButton' (without the quotes).

4. Adding the flashTooltip component
Return to the components panel and locate the flashTooltip component. Drag a copy of the flashTooltip component out of the components panel and drop it on the button component on your stage. If you have 'View' > 'Snapping' > 'Snap to Objects' ticked in the Flash IDE menu bar the component will snap to the top left of the symbol you drop it on (Note: you should ensure that your flashTooltip component is positioned above your object or, if placing it on a different layer, on a layer above your object's layer. This will ensure the flashTooltip isn't obscured by your object).
5. Setting the parameters
With the flashTooltip instance still selected press Alt+F7 to open the component inspector panel. Note that the component has automatically entered the instance name of your button component for you in the 'Target' parameter. Locate the 'Text' parameter and enter the text you want to be displayed in your flashTooltip, for example, "Click me!" (without the quotes).

6. Testing your tooltip
Press Ctrl+S (Windows) or Cmnd+S (Mac) to save your file and press Ctrl+Enter (Windows) or Cmnd+Enter (Mac) to test your file. Roll over your button to see your flashTooltip appear.
Note: Please see the instructions on using embedded fonts in order for the effects to function correctly.