Dynamically fill color in a gameobject?

Questions & Answers
1

I need to fill color in a GameObject when somebody hovers over it. How should i go about filling the GameObject with different another color to change the color at once i would use,

Material newMaterial = new Material(Shader.Find("shadername")); 
newMaterial.color = whateverColor;
gameObjectRenderer.material = newMaterial ;

but i can’t figure out how to animate color filling.

Example of what i want:

→ Unhovered gameobject will look like

12721-black_down_arrow.png

→ Then when somebody hovers over it, the color will start
to fill and a event will be executed when the game-object is filled completely.

12722-black_down_arrow1.png

2

Use three images. One just the arrow, one the arrow full, and a gradient. The technique is the same as used in this progress bar:

http://answers.unity3d.com/questions/14770/creating-a-circular-progressbar-timer.html