Modify Label text through data binding

            

<?xml version="1.0"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml" height="200"
    width="200">
    <mx:Script>
        
        [Bindable]
        public var varOne:String = "This is a public variable";
        public function setVarOne(newText:String):void {
            varOne=newText;
        }
      
    </mx:Script>
    <mx:Label id="lblOne" text="I am here" />
    <mx:Label text="{varOne}" />
    <mx:Button label="Nested Button" click="setVarOne('Nested button pressed.');" />
</mx:Application>

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Modify Label text through data binding : Data Binding « Data Model « Flex

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