I just ran across an awesome tip/trick to remember when you need to cancel events in Flex. (or even writing your own).
From Sasha Magee @ Adobe on the ApolloCoders group:
The events that end in “ing” are the cancellable events that happen BEFORE the displayState change. We added these specifically so you could cancel the event.
I know, one of those things that seems obvious after you read it, but I hadn’t seen it said before. Something to keep in mind when your preventDefault() isn’t working.