I just want to point out, that I found a very usefull air app for Flash/Flex developers. I do not like the documentation setup for Flash and the air app I found, looks very good. Check it out if you want.
When you have a movieclip with a dynamic textfield in it, using buttonMode only will not work.
Because this property is set to true as default, all the children are mouse enabled and the handcursor will not work. Setting it to false will get the handcursor back.
To enable the handcursor in this situation you need to use:
instancename.mouseChildren = false;