The assets for my 5 minute quick tip talk for the 2011 Adobe Education Leader Institute are located here. This is the completed example (Flash Professional CS5.5):
[download AEL2011_FlashContextMenu]
Here is an image preview:

Here is the SWF:
[SWF]https://inflagrantedelicto.memoryspiral.com/wp-content/uploads/2011/07/contextmenu.swf, 350, 300[/SWF]
And here be the code bits!
package {
import flash.display.Sprite;
import flash.ui.ContextMenu;
import flash.ui.ContextMenuItem;
import flash.ui.ContextMenuBuiltInItems;
import flash.net.URLRequest;
import flash.net.navigateToURL;
import flash.events.ContextMenuEvent;
public class CustomMenu extends Sprite {
private const MENUITEM_FVM:String = "©2011 Fractured Vision Media, LLC";
private const MENUITEM_JOSEPH:String = "Joseph Labrecque";
public function CustomMenu(){
buildMenu();
}
private function buildMenu():void {
var myMenu:ContextMenu = new ContextMenu();
myMenu.hideBuiltInItems();
var menuItem0:ContextMenuItem = new ContextMenuItem(MENUITEM_FVM);
menuItem0.addEventListener(ContextMenuEvent.MENU_ITEM_SELECT, visitURL);
var menuItem1:ContextMenuItem = new ContextMenuItem(MENUITEM_JOSEPH);
menuItem1.addEventListener(ContextMenuEvent.MENU_ITEM_SELECT, visitURL);
menuItem1.separatorBefore = true;
myMenu.customItems.push(menuItem0);
myMenu.customItems.push(menuItem1);
this.contextMenu = myMenu;
}
private function visitURL(e:ContextMenuEvent):void {
var site:String = "";
switch(e.target.caption){
case MENUITEM_FVM:
site = "http://fracturedvisionmedia.com/";
break;
case MENUITEM_JOSEPH:
site = "http://josephLabrecque.com/";
break;
}
navigateToURL(new URLRequest(site), "_blank");
}
}
}