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I can't speak for CS4 in case there's some new feature there, but normally, registration points automatically get located in the upper right bounding rectangle of whatever is initially created. If you are manually creating items, then you need to edit them manually to relocate elements relative to the registration point. If you are creating objects with code, you have to move the elements with code.
Sorry but I forgot to specify that I'm using CS3. Also, just to clarify, I'm manually creating the objects, not through actionscript. My problem is that the default setting is for the registration point to be on the upper left corner, but I would like to chage that for some objects and put it on the top right corner, for ease of lining objects up in at navigation menu, however the option to change the location of the registration point is no longer there.
I'm using cs4 and sometimes the option to change the x,y position goes away.
When using registration points make sure the content in the movie is positioned at 0,0 or it can get confusing.
Then ctrl-i. This was confusing when I first started scripting because it doesn't change the positioning.
It only changes where the position is calculated from.
So to align movies easily use ctrl-k. Select all the items you want to align and unselect the stage box on the right.
You usually have more than 2 items selected. Put the first and last item in place. Then use the align keys.
They align to the farthest value.