I used the marvellous R0J0hound's canvas plugin to do a kind of circular counter (may be useful for a reload effect). Blend mode source in, draw arc in canvas and paste sprite. I don't know if there is a better method to do this.
DEMO
Capx
(sorry for bad english !)
update :
Ok, I did it with a better method, I think.
Create a layer with Force own texture to Yes.
Add the circle sprite, then the canvas on top, and set its Effect Property to Destination in.