Inside movieClip container, there are colored buttons on layer1 and on layer2 there is movieClip square which covers the buttons.
I want to use the color efffects and blending options of movieClip square to make layer 1 alpha.
There are some blending options called alpha, difference, lighten and substract but Im not getting the right combinations.
I want to make layer1 alpha only by using layer2.
apply varying alpha values (and/or blendMode values) to your square and that will impact the appearance of your buttons.