<mx:Canvas xmlns:mx="http://www.adobe.com/2006/mxml" width="250"
height="40" top="10" currentState="display">
<mx:Script>
<![CDATA[
[Bindable]
private var value:String;
private function changeState(event:Event = null):void
{
if(this.currentState == "display")
{
currentState = "edit";
}
else
{
value = editInput.text;
currentState = "display";
}
}

]]>
</mx:Script>
<mx:states>
<mx:State id="display" name="display">
<mx:AddChild>
<mx:Label text="{value}" id="text" x="{editorValue.x + editorValue.width}"  click="changeState()"
minWidth="100" minHeight="20"/>
</mx:AddChild>
</mx:State>