Could you give a sample AS3 code to make a "image tray menu" something similar to https://apps.facebook.com/playsuburbia/ ????. If ActionScript can’t do it? what should I use?

Yes.. I know it has lot of work.. It would be great if you guide me on what to explore? I am beginner to Flash but has good programming skills in many other technologies. I can just pickup if given guideline or link on how to create a menu with images... Just a guideline like which site I should refer , Is action script 3 is enough? or should I go for flex?.. Flash builder is the right platform?.. Or should I make it completely in html... Some starting hint from where I can explore.

This sort of thing could be done with Flash. Even if someone had an example of something like this, I doubt very much that they would just give you the code necessary to accomplish this. Here's a good place to start to learn about game development in Flash: Game development | Adobe Developer Connection.

A Google search on "Flash Game Development" will give you a long list of sites that have tutorials and samples that should give you some starting code.

Actionscript 3.0 Game Programming University, 2nd Edition by Gary Rosenzweig and Flash Game Development: In a Social, Mobile and 3D World by Keith Gladstien Are two good books on the subject.