If you watch the presentation you should be able to see how it works. If you are talking about the top banner sldieshow, it is merely fading in images one atop another while moving them slightly into place. The stuff going back and forth in front is nothing more than strips with a low alpha being animated.
You should be able to find a basic slideshow tutorial using Google and terms like "Flash slideshow tutorial" and build upon that to get the same result. You just need to understand the basics of tweening objects.