Step One
Start with new graphic 400 x 100 transparent. Use Selection Tool set at Rectangle, Feather=0, Antialias Unchecked and select a rectangle about 10 px within the outer edge of the box. (See below) Leave selected.

Step Two
Now invert selection (Selections/Invert) and you will have a border of marching ants. Leave these selected and set styles foreground to green and background to gradient "Cyan-Magenta-Yellow" Angle=50, Repeats=0, the Style on top selected. Next right click with the fill tool into the selected border and you now have a gradient border.

Step Three - Buttonize
Deselect (Selections/Select None) and apply "Effects/3D Effects/Buttonize" with the following settings: Height=12, Width=12, Opacity=58, Transparent Checked. You should now have a transparent button with a gradient border.

Step Three - Adding Text
The text I used is "Mickey" which I liked because it has a transparent center and will use the fill that you set for the border. If you don't have this font, you can download it here.

Step Three - Starting Animation
Start Animation Shop and create a new animation (File/New), settings: Width=420, Height=120, Opaque Canvas set to White. (**See Notes at end of tutorial regarding setting backgrounds of animations.**)Now go to your transparent button that you created in PSP and copy (Ctrl-C) and paste into the your frame in Animation shop. To do this, right click inside your new frame that you made and from the menu that appears select "Paste/Into Selected Frame". You will see your image appear but until you click again it will not be anchored. Make sure it all edges of your button are showing before you click. The first frame of your animation should resemble this example.

Step Three - Making Animation
To make the text and frame change colors, go to Effects/Insert Image Effects and use these settings: Effects=Rotating Colors, Start with=Animation Frame selected, Direction=unchecked, Effect length=1.3 secs, Frames per second=6 fps. Now click OK. To view the animation you just created go to View/Animation or click the on the tool bar.

Step Three - Crop Image
We started with a frame larger than our created image because we wanted to make sure all of the border was included. So now we'll crop it. Click the crop tool, then click the "Options" tab, click "Surround the Animated Area", Click OK, and now click the "Crop" tab. Now we will save your new animation.

Step Three - Saving Animation
To save the animation, go to File/Save As and name the animation. Make sure you are saving as a .gif. A new box will come up regarding Animation Quality versus Output size. I have left my animation at best quality because I have found that when you are working with text you get less jaggy edges with best quality. However your animation will take longer to load. You can adjust the settings to suit you. You should now have an animation that resembles this:

Notes on Tutorial
Background--We first created a transparent image so that you would have a choice of backgrounds. If we had used a colored background in PSP the background would also have rotating colors. If we had used a colored background in Animation Shop, instead of white, the background would remain constant throughout the animation just as the white one does. Also, you can leave the background transparent simply by copying the transparent image from PSP and once you get to Animation Shop, right click on the work surface and click "Paste as a New Animation".