Simplified Binding Example for Flex 2

Finally figured out a way to get my code to render properly in my blog. There seems to be some confusion on how to communicate between components. This example kinda covers most of the basics.

Child Component:

<?xml version="1.0" encoding="utf-8"?>
<mx:Canvas xmlns:mx="http://www.adobe.com/2006/mxml">
<mx:Metadata>
   [Event(name="childEvent", type="flash.events.Event")]
</mx:Metadata>
<mx:Script>
   <![CDATA[
       [Bindable]
       public var testLabelText:String;     
       private function clickHandler():void        {
           var eventObj:Event = new
               Event("childEvent");
           dispatchEvent(eventObj);        }
   ]]>
</mx:Script>
<mx:Binding source="test.text" destination="testLabelText" />
   <mx:TextInput id="test" text="{testLabelText}"/>
   <mx:Button x="167" y="0" label="Button" click="clickHandler()"/>  
</mx:Canvas>

Parent Application:

<?xml version="1.0" encoding="utf-8"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml" layout="absolute" xmlns:ns1="*">  
   <ns1:Child x="388" y="105" id="childLabel" testLabelText="{parentLabel.text}"
       childEvent="status.text='child button clicked'"/>
   <mx:TextInput x="388" y="131" text="{childLabel.testLabelText}" id="parentLabel"/>
   <mx:Label x="388" y="161" id="status"/>  
</mx:Application>