what i want to do: when the player picks up a power-up to begin to  blink and also  change the players color...without using different sprite sheets. in another words, use the existing sprite sheet, set the FLASH to blink and somehow change the color.
Just like in super mario bro when you get a power up. Can anyone give a CAPX example of how to do this dynamic color change for a spritesheet?
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There is a behavior called Flash which you can use to make the blinking effect, and there are some WebGL effects you can add to the object that change color, you'd just have to enable/disable them through events as needed.
i already know about the flash behavior, but dont know anything about WebGL effects. do you know which to use, and how to use it? that was my main question. thanks a million for your help.
This is quite easy to do, but you'll need to familiarize yourself with how to control effects from within event sheets - please take a look at this thread which points to using the Set Color effect, and there are some good words in the manual to cover what you need to think about when using them.
As for varying the color, you'll need to change the Set Color parameters in events via the System. So... add the effect to your sprite and then you will be able to edit the effect parameters as required.
awesome thanks a million...you're the best Colludium