Those are just 2d things that are rotating, but they're squished so it looks a bit 3d. And then the mountains and drops get the negative rotation of the rotating movieclip that they are imbedded into, which makes it look like they aren't rotating even though they are indeed a part of the rotating land. Does that make sense to you? I've uploaded a more complex one here on dA which has alot more control of the camera.
Jo en sak vet ja, snygg e det i alla fall
add Stage.showmenu = false; tho, that way it minimalizes the rightclick settings