Found the answer.
Watch the Flex in Week Video on Day 3 the first video.
Flex in a Week Day 3.01
First you create your component which contains the action then below the Group or Panel or whatever your components base is enter
Then in that Event in your action class you register the event and then dispatch it
Then in your parent Application, in your component you assign an event handler for the someeventname and then in that event handler, you do the action on whatever sub component you wish.
In my example, I would do the first two steps in my Main Panel, and in my second Main panel and the actions would affect the remaining Panels which are affected by that event.