It seems a backward-compatible technique that can't be simply shut off.
Apparently, button hit testing is completely bypassed when using touch events instead of mouse events. Of course, this is not applicable if you want to target in-browser PC users..
If you're building the game for mobile devices, use touch events, like this:
Multitouch.mapTouchToMouse = false;
Multitouch.inputMode = MultitouchInputMode.TOUCH_POINT;
addEventListener(TouchEvent.TOUCH_BEGIN, onActualStageTouch);
A useful discussion on the Adobe forum is here: http://forums.adobe.com/message/5346701#5346701