This video explains what I am after. Never mind the voice over in foreign language:
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You can stop watching at 1:15 as the rest of the video is not necessary.
Basically what I want a Flash app for a Wordpress website where user is able to import images, adjust the hue, brightness, contrast and saturation for each image and an option to create the mask for each image by placing vector points (just like in the video) and adjust the mask feather (edge softness).
It should also be possible to transform each image - move around, rotate, scale and send to back (or bring forward).
Ultimately there should be a "save" button that saves the composited image to server and creates a Wordpress post for it.
Looking forward to expert bids along with relevant portfolio.