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Using this tutorial, you will see how to create on a simple way in few steps vertical text effect. To create this lesson you don't have to use action script code.
Create a new flash document.
Select Modify > Document (shortcut key: Ctrl+J ). Set the width of your document to 300 pixels and the height to 250 pixels. Select any color as background color and set your Flash movie's frame rate to 110 fps. Then, click ok.
Take the Text Tool (A) and type any text on the stage.
After that, while the text is still selected, press F8 key (Convert to Symbol) to convert it into a Movie Clip Symbol.
Click on frame 15 and press F6 key. After that, choose Modify > Transform > Flip Vertical.
Right-click anywhere on the gray area between the two keyframes on the timeline and choose Create Motion Tween from the menu that appears.See the picture below.