The Sandglass Preloader contains 1 preloader animation, 1 actionscript frame which contains the Actionscript and 1 dynamic textfield which displays the percentage.
The actionscript get you to frame 2 when the file is loaded. In the meanwhile the preloader animations plays and you can follow the progress by the increasing percentage.
How to change the color? Place the Sandglass movieclip on the stage, select it, and in the properties pannel change the the tint.
The font i used: Silkscreen came from here http://www.kottke.org/plus/type/silkscreen/
And can be downloaded and used by everyone.
This file also includes the gradient background in .eps format!