whats that?
A google search for a flash custom cursor should start you out.
They probably check the x position of the mouse and then change the cursor corresponding to whether the mouse is in the left or right position.
The click event could be tied to an actionscript tweening function, or it could be set to gotoAndPlay the animated portion of the slide.
Samwich is right... custom cursor with an enterframe function for the arrows... all of the motion is done via a tweening library, you can tell by the easing... I happen to be a fan of tweenlite (http://blog.greensock.com/tweenliteas3/)
It was done in Silverlight, not Flash.
I just checked out tweenlite looks pretty sweet, do I just copy and paste the AS to the object?
Not to steal the OP, but what are the alternative packages to buying flash from Adobe?
To include good and bad points.
no, tweenlite is an actionscript library. Jacks demo application will write a bit of code for a sample, but if you want to create a SWF with the type of effects as the site you provide, you need to learn to write actionscript, either in Flash or in Flex.