for blur and dropshadow, you can use movieclip filters. if you want to apply them to a movieclip in the authoring environment, open the filters panel, click to select the movieclip and in the filters panel add the desired effect.
if you want to add a tweened effect, check the cs4/cs5 motion tween presets.
Uhmm... that doesn't help... thanks anyway.
I have the text moving up using a motion tween, but I also want it to blur out using the "timeline effect"
timeline effects were removed in cs4 in favor of motion presets. if that doesn't help (ie, you can only use timeline effects), use cs3. that's the last version of flash that had timeline effects.