ActionScript 2.0 :: Load Dynamic Image Using LoadBitmap?

i'm messing around with senoculars example for doing a transition [URL]. the only problem is that he's using images that are being exported from the library. i want to use it by loading images dynmically but i can't figure out how. i don't know much about the bitmap class and have been failing on figuring it out for hours now.

the main function where the problem is:

Code:
function loadTransBitmap(id){
var tempbmp = flash.display.BitmapData.loadBitmap(id);
transbmp.copyPixels(tempbmp, tempbmp.rectangle, basepoint);
tempbmp.dispose();
}

the 'id' would just be a path of an image like "images/test.jpg"

i know you can't use loadBitmap for dynamic images and my logic is that i have to load the image in a movieclip, and then loadBitmap that movieclip but I can't seem to get that to work. i think in order to get the transition to work though i need to use that loadBitmap eventually.