by the way, I see the "Show in text hovers" checkbox in the preferences menu under "ActionScript Code" under "ASDoc comments"
I unchecked that but I still get the tool tips in my code editor
That preference you found only disables the ASDoc content in the tooltip, it does not disable the tooltip itself. The default, non-ASDoc, content shows the signature of the definition. There isn't currently a way to completely disable tooltips. You can file a request at http://bugs.adobe.com/flex.
Jason San Jose
Software Engineer, Flash Builder
Strongly agree. I call this as "Crazy Hover"... Eclipse Java Editor can be configured to disable its Combined Hover (or assign hotkeys). Hope Flash Builder editors can have such configuration also.