Можно вообще без индексов обойтись.

Код AS1/AS2:
import flash.geom.ColorTransform;
var RED: ColorTransform = new ColorTransform(1, 0, 0, 1, 255, 0, 0, 0);
var BLACK: ColorTransform = new ColorTransform(1, 1, 1, 1, 0, 0, 0, 0);
var app: MovieClip = this;
AsBroadcaster.initialize(this);
var i: Number = 1;
var but: MovieClip;
while (but = this["button_text" + i++]) {
app.addListener(but);
but.transform.colorTransform = app.BLACK;
but.release = function(target:MovieClip):Void {
this.transform.colorTransform = this === target ? app.RED : app.BLACK;
};
but.onRelease = function():Void {
app.broadcastMessage('release', this);
};
}