New version of CoverFlow makes the url linking easier:
Each item in the coverflow is defined with:
<cover>
<img><![CDATA[dog.jpg]]></img>
<desc><![CDATA[Dog]]></desc>
<param><![CDATA[http://www.google.com/images?q=dog]]></param>
</cover>
If you want a item to open an URL, you specify the url in the param parameter. If the url starts with ‘http’ no other action is required, flash detects that an url is provided (if the param does not [...]

New flash script is avaiable at http://www.yofla.com/flash/cover-flow/ It is a mac or iTunes like cover flow script, customizable via xml file. For more details please visit the  product page.